WASHINGTON, Dec. 15 (Xinhua) -- U.S. consumer inflation in December increased 2.9 percent from a year ago, after climbing 2.6 percent in October and 2.7 percent in November, the U.S. Labor Department reported Wednesday.

According to the report released by the Bureau of Labor Statistics, the Consumer Price Index (CPI) -- a broad measure of goods and services costs across the U.S. economy -- increased 0.4 percent on a seasonally adjusted basis in December after rising 0.3 percent in November, and 0.2 percent in each of the previous four months.

The latest inflation report showed that the so-called core CPI, which excludes food and energy, increased 0.2 percent in December after rising 0.3 percent in each of the previous four months. The core CPI has risen 3.2 percent over the last 12 months ending December, indicating continued inflation pressure.

The index for energy rose 2.6 percent in December, accounting for over 40 percent of the monthly all items increase. The gasoline index increased 4.4 percent over the month. The index for food also increased in December, rising 0.3 percent.

Indexes that increased in December include shelter, airline fares, used cars and trucks, new vehicles, motor vehicle insurance, and medical care. Personal care, communication, and alcoholic beverages were among the few major indexes that decreased over the month.

U.S. egg prices are skyrocketing due to a shortage of egg-laying hens amid an outbreak of avian influenza, also known as bird flu, adding new pressures to the inflationary landscape.

According to the recently released minutes of the Federal Open Market Committee (FOMC)'s Dec. 17-18 meeting, returning inflation to the Federal Reserve's 2-percent long-term goal "could take longer than previously anticipated."

Regarding the outlook for inflation, participants expected that inflation would continue to move toward 2 percent, "although they noted that recent higher-than-expected readings on inflation, and the effects of potential changes in trade and immigration policy, suggested that the process could take longer than previously anticipated," the minutes showed.

At its Dec. 17-18 meeting, the FOMC reduced the target range for the federal funds rate by 25 basis points to 4.25 percent to 4.5 percent -- marking the third consecutive rate cut in this easing cycle. The Fed also indicated the possibility of fewer cuts in the new year as it braces for uncertainty stemming from the incoming Donald Trump administration's policies. Enditem

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