Investing.com – Core consumer price inflation in the U.S. rose broadly in line with market expectations in December, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that core consumer prices rose by a seasonally adjusted 0.1% in December, in line with expectations, after rising by 0.2% in November.
Year-over-year, core consumer prices rose at an annualized rate of 2.2% in December, matching forecasts and unchanged from November.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Consumer prices, including food and energy costs, were flat last month, confounding expectations for a modest 0.2% gain. Consumer prices were flat in November as well.
Consumer prices increased at annualized rate of 3.0% in last month, in line with expectations. Consumer prices rose at a rate of 3.4% in November.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD gaining 0.4% to trade at 1.2916.
Meanwhile, U.S. stock future indices remained higher after the release of the data. The Dow Jones Industrial Average futures pointed to a gain of 0.25%, S&P 500 futures rose 0.4%, while the Nasdaq 100 futures pointed to a rise of 0.5%.
In a report, the Bureau of Labor Statistics said that core consumer prices rose by a seasonally adjusted 0.1% in December, in line with expectations, after rising by 0.2% in November.
Year-over-year, core consumer prices rose at an annualized rate of 2.2% in December, matching forecasts and unchanged from November.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Consumer prices, including food and energy costs, were flat last month, confounding expectations for a modest 0.2% gain. Consumer prices were flat in November as well.
Consumer prices increased at annualized rate of 3.0% in last month, in line with expectations. Consumer prices rose at a rate of 3.4% in November.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD gaining 0.4% to trade at 1.2916.
Meanwhile, U.S. stock future indices remained higher after the release of the data. The Dow Jones Industrial Average futures pointed to a gain of 0.25%, S&P 500 futures rose 0.4%, while the Nasdaq 100 futures pointed to a rise of 0.5%.