Consumer prices fell again in December owing mostly to fallingcosts of food and gasoline, according to the U.S. Department ofLabor’s consumer price index for November, as reviewed by MarketWatch.
|The consumer price index declined by seasonally adjusted 0.1%last month. For all of 2015 inflation rose just 0.7%, the secondslowest rate in 50 years, the report said.
|The low rate was largely the result of the biggest drop ingasoline prices in more than a decade. The cost of food alsotapered off toward the end of the year because of falling pricesfor agricultural goods.
|In December, energy prices dropped 2.4% and food costs fell0.2%.
|Taking out food and energy, core prices rose 0.1% in December.The cost of shelter climbed again, reflecting higher prices forhomes and rising rent.
|Despite the decline consumer prices in December, inflation nolonger appears to be receding.
|Over the past 12 months the CPI has risen at a 0.7% rate, thehighest year-over-year gain since the end of 2014. The annual rateof inflation had briefly turned negative in early 2015.
|Inflation-adjusted hourly wages increased 0.1% in December. Realwages have risen 1.8% in the past 12 months.
|Insurance-related figures
|The CPI for Auto insurance rose 5.7%, up from 5.5% inOctober.
|
(Source: Insurance Information Institute)
|Related: Auto insurance up 5.5% in November consumer priceindex
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