Reflecting a sharp pullback in energy prices, the Labor Department released a report on Friday showing U.S. consumer prices rose by less than expected in the month of December.
The Labor Department said its consumer price index inched up by 0.1 percent in December after climbing by 0.4 in November. Economists had expected prices to rise by 0.2 percent.
Meanwhile, the report said core consumer prices, which exclude food and energy prices, increased by 0.3 percent in December after ticking up by 0.1 percent in November. Core prices had been expected to rise by 0.2 percent.