Falling energy prices held down US consumer price increases in December, while inflation for all of 2017 was steady or even lower than 2016, according to government data released today.
The US consumer price index, which measures the costs of goods and services to individuals, rose just 0.1% in December, the Commerce Department said in its monthly report.
That was half the increase expected by analysts.
Excluding volatile food and fuel components, "core" CPI rose 0.3% last month, the biggest jump since January 2017, on rising costs for shelter and medical care.
For the full year, CPI rose 2.1%, the same as 2016, while core CPI slowed, posting a 1.8% increase after the 2.2% gain in the previous year.
Today's figures are another sign of the absence of price pressures that the Federal Reserve has found baffling in a growing economy close to full employment, which should see wage and price increases.
The energy index in the US last month fell 1.2% compared to November.
Petrol prices declined after a big jump in the previous month, outweighing the rise in winter fuel oil prices as a cold snap hit the Northeastern US, the report said.
US energy prices were up sharply last year compared to 2016, with petrol rising nearly 11% and fuel oil up more than 15%.
Shelter costs rose 0.4% in the month, while medical care increased 0.3% and food was up 0.2%.
But clothing prices fell for the fourth consecutive month, and airline fares fell 0.5% after a 2.4% drop in November.
Meanwhile, used car and truck prices jumped 1.4% in the month, while new car prices gained 0.6%.
