US consumer prices rise in December By Reuters

© Reuters.

WASHINGTON (Reuters) – U.S. consumer prices surged in December, with households paying more for gasoline, although core inflation remained subdued as the economy battled a COVID-19 pandemic, which has hit the labor market and service industry. The Labor Department said Wednesday that its consumer price index rose 0.4% last month after gaining 0.2% in November. In the 12 months through December, the CPI rose 1.4% after rising 1.2% in November. Economists polled by Reuters had forecast the CPI to skyrocket 0.4% and 1.3% year-on-year.

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