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US annual inflation slows to 1.9% in December 2018

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US annual inflation slows to 1.9% in December 2018

The U.S. consumer price index declined 0.1% in December 2018 from November 2018, due to a sharp decline in gasoline prices, the U.S. Bureau of Labor Statistics said.

The gasoline index plunged 7.5% in December 2018, following a 4.2% slide in the prior month. The wider energy index was down 3.5%, while food prices ticked up 0.4%.

The CPI rose 1.9% year over year, in line with the Econoday consensus estimate, following a 2.2% increase in November 2018.

Excluding food and energy, consumer prices rose 2.2% year over year, also in line with analyst expectations.