Inflation slowed to 6.5% in December

The Consumer Price Index declined 0.1% in December on a seasonally adjusted basis after rising 0.1% in November, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, all items index increased 6.5%.

Prices for all items less food and energy, the “core CPI,” rose 0.3% in December, after increasing 0.2% in November.

The food index increased 0.3% in December, after rising 0.5% in November. The index for food at home rose 0.2% over the month, after rising 0.5% in November. In December, the increase was attributed to a rise in three of the six major grocery store food group indexes. Meats, poultry, fish, and eggs increased 1.0% while the index for cereals and bakery products rose 11.1% over the month. The food away from home index increased, rising 0.4%. The food index rose 10.4% over the last 12 months.

The energy index fell 4.5% in December after falling 1.6% in November. The gasoline index declined 9.4% over the month following a 2.0% decrease in November. The fuel oil index (not seasonally adjusted) rose 41.5% in October.

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