Washington: The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent on a seasonally adjusted basis in December, marking a record gain in nine months as inflation continues to slow, the U.S. Bureau of Labor Statistics reported on Wednesday.
According to Kuwait News Agency, in the last 12 months, the all items index increased 2.9 percent before seasonal adjustment. This includes the index for energy, which rose 2.6 percent in December, accounting for over forty percent of the monthly all-items increase.
The report highlighted that the gasoline index saw a 4.4 percent increase over the month, while the index for food increased by 0.3 percent in December. Both the index for food at home and the index for food away from home experienced a 0.3 percent rise each.
The index for all items less food and energy rose by 0.2 percent in December, following a 0.3 percent increase in each of the previous four months. Indexes that rose in December include shelter, airline fares, used cars and trucks, along with new vehicles, motor vehicle insurance, and medical care.
Conversely, the indexes for personal care, communication, and alcoholic beverages were among the few major indexes that decreased over the month. The all items index rose 2.9 percent for the 12 months ending December, after a 2.7 percent increase over the previous year. The energy index decreased by 0.5 percent for the 12 months ending December, while the food index saw a 2.5 percent increase over the last year.