Annual US consumer inflation at 3.4% in December, rises from 3.1% in November

By Ovunc Kutlu

ISTANBUL (AA) - Annual consumer inflation in the US came in at 3.4% in December, rising from a 3.1% gain in November, according to figures released Thursday.

The consumer price index (CPI), which measures changes in the prices of goods and services from a consumer's perspective, was higher than estimates of 3.2%.

The figure, however, is a sharp decline from last June's 9.1% yearly gain, the largest since November 1981.

"The energy index rose 0.4 percent in December, after decreasing 2.3 percent in November," the Labor Department said in a statement. "The food index increased 0.2 percent in December, as it did in November."

CPI rose 0.3% in December, compared to the previous month, while expectations for the figure was to show a gain of 0.2%.

In November, CPI increased 0.1% from the previous month.

Core CPI, which excludes volatile food and energy prices, gained 0.3% in December from the previous month, coming in line with estimates, after rising 0.3% in November.

Annually, core CPI climbed 3.9% in December, lower than expectations of 3.8%, following a 4% year-on-year gain in November.