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Dec. CPI up 0.5%, core rate up 0.1%

Dec. CPI up 0.5%, core rate up 0.1% (by Greg Robb)

WASHINGTON (MarketWatch) - The consumer price index increased 0.5%, driven by a 4.6% gain in energy prices, the fastest increase in energy prices in more than two years, the Labor Department said Friday. Other price increases were more moderate. Food prices rose 0.1%. The core CPI, which excludes food and energy costs, rose 0.1% in December. The CPI report was in line with expectations. In 2010 the CPI rose 1.5%. The core rate was up a record low 0.8%.

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Dec. CPI up 0.5%, core rate up 0.1%