The Consumer Price Index rose 0.3 in December, higher than the estimated 0.2 increase. Headline CPI increased 3.4 in 2023 compared to an estimated 3.2. Core CPI rose 0.3 month-over-month and 3.9 year-over-year, above estimates. Much of the increase was due to higher shelter costs, which rose 0.5 and accounted for over half of core CPI growth. Food prices increased 0.2 while energy rose 0.4 after declining in November.