Inflation in December Increases but Still Modest

Washington, DC, Jan. 18, 2017 -- Prices rose 2.1% over the last year, the greatest increase in more than two years.

The consumer price index rose 0.3%, the Labor Department said.

Core inflation, which excludes volatile food and energy items, rose 0.2% and was up 2.2% the past 12 months.

The numbers matched economists' expectations.