U.S. consumer prices increased solidly in December amid a surge in the cost of gasoline, though underlying inflation remained tame as the economy battled a raging COVID-19 pandemic, which has weighed on the labor market and the services industry. The Labor Department said on Wednesday its consumer price index increased 0.4% last month after gaining 0.2% in November. An 8.4% jump in gasoline prices accounted for more than 60% of the rise in the CPI. In the 12 months through December the CPI advanced 1.4% after increasing 1.2% in November. Last month’s CPI readings were in line with economists expectations. The CPI ... (full story)