(BLS) US inflation hit a 40-year record after rising by a monthly 0.5% in December, a lower gain compared to 0.8% increase in November.
Despite the slower increase in consumer prices, the overall inflation rose by an annual 7.0% in December, the highest since June 1982.
The energy index posted the first decline of 0.4% in December after a series of increases, with gasoline and natural gas all edging lower. The food index eased to a lower 0.5% increase.
Over the 12-month period, the energy index gained 29.3%, while the food index increased by 6.3%,
With less food and energy, consumer prices increased by 0.6%, compared to a gain of 0.5% in November. Over the 12-month period, the consumer prices rose by 5.5% less food and energy, the highest since February 1991.
SPY is up +0.44% on premarket, DXY is down -0.28%.
