Wednesday, January 16, 2013

Consumer Prices Unchanged in December

Consumer prices were unchanged in December, after falling 0.3% in November the first decline in six months. Consumer prices are now 1.7% above year-ago levels–the third smallest December-December increase of the past ten years.

Core goods saw a modest 0.1% appreciation in December, constant with that seen in November. Core prices are now 1.9% above year-ago levels.

The appreciation in core prices was due entirely to services, which rose 0.2% over the month. Goods prices saw declines, falling 0.2%. Goods prices have now fallen in all of the past five months.

Energy prices fell for the third consecutive month, falling 1.2% in December—a much smaller decline than the previous month fall of 4.1%. Food prices continued their appreciation in December, rising 0.2%.

Read the BLS report.

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