Energy Pushes U.S. Prices Higher
Author: Jeff Bater; Ian Talley</br></br>Core inflation remained subdued in December, though overall prices moved up on more expensive oil, while U.S. industrial production posted solid gains.</br></br>Labor Department data showed tame consumer price inflation. While gasoline prices shot higher, prices consumers paid in the U.S. last month for goods and services not related to food or energy inched up a mere 0.1%.</br></br>The Labor Department report on consumer prices showed the 0.5% gain in retail inflation last month compared with November was the biggest increase since June 2009. The increase was in line with expectations, as was the 0.1% gain in prices excluding food and energy, known as the core number.</br></br>Although higher commodities prices are a concern, inflation has been under wraps, subdued by the weakness of an economy trying to regain its footing against a 9.4% unemployment rate.