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U.S. consumer prices rise most in six months

English.news.cn   2014-01-17 08:24:02

WASHINGTON, Jan. 16 (Xinhua) -- U.S. consumer inflation in December posted the biggest rise in six months, pushed up by energy and housing prices, the Labor Department said on Thursday.

The Consumer Price Index, a gauge of consumer inflation, increased 0.3 percent in December on a seasonally adjusted basis. The index was flat in November and decreased 0.1 percent in October.

Gas prices jumped 3.1 percent in December, the biggest gain since June. Fuel oil prices rose 2.4 percent, while the shelter index which points to housing prices ticked up 0.2 percent.

Food prices added 0.1 percent, and apparel prices were up 0.9 percent.

Car prices were flat and airline fares dropped 4.7 percent, the most in 14 years.

In the past 12 months, prices climbed 1.5 percent before seasonally adjusted, below the Federal Reserve's target of 2 percent. The persistently low inflation is partly the reason for the central bank to keep low interest rates for a longer time though it has decided to scale back the monthly bond purchases.

The Producer Price Index, a gauge of inflation at the factory gate, rose 0.4 percent in December on a seasonally adjusted basis, the department said on Wednesday.

Editor: Yang Lina
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