Inflation rose at an increased rate going into 2017, a new report from the Bureau of Labor Statistics shows.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in December 2016, on a seasonally adjusted basis.
Over the last 12 months, the “all items” index rose 2.1 percent before seasonal adjustment.
These figures show a fifth monthly gain for the CPI.
Continuing their recent trends, the shelter and gasoline indexes increased in December 2016 and were largely responsible for the seasonally adjusted all items increase.
The shelter index rose 0.3 percent in December, while the gasoline index increased 3.0 percent.
Recent trends also continued in the food indexes, as the food at home index again declined, offsetting an increase in the index for food away from home and leaving the overall food index unchanged for the sixth consecutive month.
The energy index continued to rise, advancing 1.5 percent in December 2016, primarily due to an increase in the gasoline index.