Following deflationary prints in import prices and producer prices, core consumer prices came in modestly hotter than expected. Core CPI printed +1.8% YoY - highest since April 2017 - as shelter costs re-acclerate.
Headline SPI rose just 0.1% MoM (as expected) but notable slower than the 0.4% MoM rise in November.
The index for all items less food and energy increased 0.3 percent in December, its largest increase since January 2017.
The recent (silver lining) trend in lower shelter cost...