Data released moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), which measures inflation, rose 0.3% in December, unchanged from November and in line with expectations. The core CPI, which excludes food and energy prices, rose 0.2%, falling short of the anticipated 0.3% increase.

The year-over-year CPI remained unchanged at 2.7%, matching November’s reading and also in line with expectations, while the core CPI rose 2.6%.

In a more detailed breakdown, the food index rose 3.1% year-over-year and 0.7% in December. The energy index rose 2.3% year-over-year and 0.3% month-over-month. The housing and shelter index saw the largest increase in December, rising 0.4% year-over-year and 3.2% month-over-month.