US Consumer Prices See Record Gain In Nine Months As Inflation Slows

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Jan 15 (KUNA) -- The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent on a seasonally adjusted basis in December a record gain in nine months as inflation continues to slow,,the U.S. Bureau of Labor Statistics reported on Wednesday.
In the last 12 months, the all items index increased 2.9 percent before seasonal adjustment, including the index for energy that rose 2.6 percent in December, accounting for over forty percent of the monthly all items.
The report showed that the gasoline index increased 4.4 percent over the month, while the index for food also increased in December, rising 0.3 percent as both the index for food at home and the index for food away from home increased 0.3 percent each.
The index for all items less food and energy rose 0.2 percent in December, after increasing 0.3 percent in each of the previous 4 months, while indexes that increased in December include shelter, airline fares, used cars and trucks, in addition to new vehicles, motor vehicle insurance, and medical care, it added.
The indexes for personal care, communication, and alcoholic beverages were among the few major indexes that decreased over the month, while the all items index rose 2.9 percent for the 12 months ending December, after rising 2.7 percent over the last year, while the energy index decreased 0.5 percent for the 12 months ending December, with the food index increasing by 2.5 percent overthe last year, it showed. (end)
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