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U.S. consumer prices barely rose in December despite record low unemployment, indicating that inflationary pressures remain very muted.
The Labor Department’s Consumer price index increased 0.2 percent in the last month of 2019, a slowing of the pace of prices from the 0.3 percent rise in November and the 0.4 percent rise in October. The December figure was below the consensus forecast of a 0.3 percent gain.
Core - CPI - Categories - Food - Energy
Core CPI, which excludes the volatile categories of food and energy, rose by just 0.1 percent.
In the 12 months through December, the CPI rose 2.3 percent. There was no change to either the annual figure when food and energy are excluded.
Inflation - Federal - Reserve - Consumption - Expenditure
That likely means that inflation as measured by the Federal Reserve’s preferred metric, the personal consumption expenditure index minus food and energy, is running below the Fed’s two percent target. Core PCE inflation tends to run a...
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