Consumer prices rise for fifth month

Washington

THE cost of living in the US climbed for a fifth month on the back of shelter and fuel prices, pushing inflation closer to the Federal Reserve's goal.

The consumer price index rose 0.3 per cent in December, matching the median projection of economists, after a 0.2 per cent gain the previous month, Labor Department figures showed on Wednesday in Washington. Prices were up 2.1 per cent from a year earlier, the most since June 2014. Excluding volatile food and fuel, the so-called core measure rose 0.2 per cent from November.