Inflation Concerns All But Gone as Consumer Prices Flat in December
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A report from the Labor Department Thursday showed consumer prices were slightly better than expected for the month of December. The data follows a cooler reading on producer prices Wednesday.
Living costs within the US were relatively unchanged over last month, the second month in a row the metric hasn't move in either direction. Economists on the Street were expecting a 0.1 percent rise from November.
A reading of core consumer prices rose 0.1 percent, right inline with economist estimates. "Core" CPI excludes the always-volatile food and energy sectors.
Compared to the same month in 2010, consumer prices rose 3 percent while the core reading was up 2.2 percent.
While the CPI reading was one of several major economic data points released Thursday, traders are mostly shrugging at the macro picture as a flood of earnings (BofA, Morgan Stanley, eBay, Freeport-McMoRan, F5) came in earlier. Google, Intel and Microsoft are set to report this afternoon following the closing bell.
Just after noon, the Dow is up 20 points to 12,598, the Nasdaq is up nearly 21, and the S&P 500 is up almost 6 points.
Living costs within the US were relatively unchanged over last month, the second month in a row the metric hasn't move in either direction. Economists on the Street were expecting a 0.1 percent rise from November.
A reading of core consumer prices rose 0.1 percent, right inline with economist estimates. "Core" CPI excludes the always-volatile food and energy sectors.
Compared to the same month in 2010, consumer prices rose 3 percent while the core reading was up 2.2 percent.
While the CPI reading was one of several major economic data points released Thursday, traders are mostly shrugging at the macro picture as a flood of earnings (BofA, Morgan Stanley, eBay, Freeport-McMoRan, F5) came in earlier. Google, Intel and Microsoft are set to report this afternoon following the closing bell.
Just after noon, the Dow is up 20 points to 12,598, the Nasdaq is up nearly 21, and the S&P 500 is up almost 6 points.
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