U.S Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.4% in December, according to the Department of Labor press release. The increase follows a 0.2% rise in November with the all time index posting a 1.4% surge over the last 12 months before seasonal adjustments.
- The seasonally adjusted increase in the all items index was driven by an 8.4% rise in the gasoline index, which accounted for more than 60% of the overall growth.
- The food index rose in December, as both the food at home and the food away from home indexes increased 0.4%
- The index for all items less food and energy increased 0.1% in December after rising 0.2% in November.
- The indexes for apparel, motor vehicle insurance, new vehicles, personal care, and household furnishings and operations all rose in December.
- The indexes for used cars and trucks, recreation, and medical care were among those that declined in December.
U.S stocks and the dollar are currently gaining. SPY is up 0.20%, QQQ: NASDAQ is up 0.59%, EURUSD is down 0.40%