The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at a time when most economists and policymakers see inflationary pressures easing.
Excluding volatile food and energy prices, the so-called core CPI also rose 0.3% for the month and 3.9% from a year ago, compared with respective estimates of 0.3% and 3.8%.
On annual basis, shelter costs increased 6.2%, or about two-thirds of the rise in inflation.
Food prices increased 0.2% in December, the same as in November.
"Certainly, as long as shelter inflation remains stubbornly elevated, the Fed will keep pushing back at the idea of imminent rate cuts."
Persons:
Dow Jones, Seema Shah
Organizations:
Labor Department, Energy, of Labor Statistics, Federal Reserve, Fed, Asset Management
Locations:
U.S