The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in December, following a 1.7% increase in November. Lower energy prices were offset by higher prices for various services, including air transportation, telephone services and travel tours. Excluding gasoline, the CPI rose 2.5% in December. All eight major components rose year over year in December, with the shelter index (+2.2%) contributing most to the increase. Chart 2 Chart 2: Consumer prices increase in all major components Consumer prices increase in all major components Chart 2: Consumer prices increase in all major components Consumer prices ... (full story)