U.S. consumer prices rose slightly in December and monthly underlying inflation pressures retreated, which could allow the Federal Reserve to keep interest rates unchanged at least through this year.
The Labor Department said on Tuesday its consumer price index increased 0.2% last month after climbing 0.3% in November. The monthly increase in the CPI has been slowing since jumping 0.4% in October. In the 12 months through December, the CPI rose 2.3% after gaining 2.1% in the 12 months through November.
Economists polled by Reuters had forecast the CPI would rise 0.3% in December and advance 2.3% on a year-on-year basis.
Excluding the volatile food and energy components, the CPI edged up…