CPI Remains Steady


Inflation edged upward last month, driven by increases in gasoline and food prices, however the Labor Department's core consumer price reading remained steady. 

The consumer price index rose 0.4% in December on a seasonally adjusted basis, accelerating from a 0.2% increase in November, the Labor Department said today. The latest reading was largely in line with economist expectations. Core prices were up 0.1% in December, matching economists’ expectations. following a 0.2% rise in November. The Federal Reserve's target for overall inflation remains at 2 percent.