U.S. consumer prices rise 2.7% in December, core inflation falls short of forecasts

U.S. consumer price inflation in December last year matched market expectations and held at the same level as the previous month.

The Labor Department said in data released on the 13th (local time) that the consumer price index (CPI) for December last year rose 2.7% from a year earlier. That was the same as November's increase of 2.7% and matched the market consensus compiled by Dow Jones. The month-over-month increase was 0.3%, also in line with expectations.

However, core CPI, which excludes the more volatile energy and food categories, came in lower than expected. Core CPI rose 2.6% from a year earlier, below the 2.8% forecast by experts, and increased 0.2% from the previous month, missing the 0.3% estimate.