WASHINGTON (Reuters) – U.S. consumer prices rose less than initially expected in December, according to revised data released Friday by the Labor Department’s Bureau of Labor Statistics (BLS).
The Consumer Price Index (CPI) rose 0.2% month-on-month in December instead of the 0.3% reported last month, but the November data was revised upwards and showed that the CPI increased by 0.2%, instead of the previously estimated 0.1%.
Data has been revised to take into account the impact of seasonal variations.
The CPI revision will impact the PCE Consumer Price Index, the indicator used by the Federal Reserve to determine whether inflation is at its 2% target or not.
Excluding the volatile food and energy components, the CPI rose 0.3% in December, in line with its first estimate.
The underlying CPI rose 3.9% year-on-year in December, with the underlying PCE price index increasing 0.2% month-on-month and 2.9% year-over-year in December.
(Editor Lucia Mutikani, Corentin Chappron, edited by Kate Entringer)
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