The cost of gasoline rose 7.6% in the 12 months to December, after advancing 13.5% in November. Gasoline prices have declined steadily on a monthly basis starting in June.
On a year-over-year basis, prices for the purchase of passenger vehicles fell 0.2% in December following a 1.8% rise the month before. On a monthly basis, prices declined 2.3% as manufacturers continued to offer discounts on various vehicles, including new 2012 models.
Consumers paid 4.4% more for food in the 12 months to December, following a 4.8% increase the month before. The year-over-year change for food purchased from stores eased in December to a 5.0% gain from 5.7% in November.
On a year-over-year basis, prices rose in all eight major components in December. Transportation and food continued to post the largest increases.