Washington, Rabi’II 10, 1437, January 20, 2016, SPA -- U.S. consumer prices fell slightly in December as the cost of energy dropped and services rose moderately, and for all of 2015 rose by the smallest amount in seven years, the government reported Wednesday, indicating that inflation will be slow to rise toward the Federal Reserve (Fed) target. The Labor Department said its consumer price index (CPI) fell 0.1 percent last month after being unchanged in November. For all of the year, overall inflation increased by 0.7 percent, even smaller than the 0.8 percent gain in 2014. Both years were heavily influenced by plunging energy prices. So-called “core” CPI, which excludes volatile energy and food costs, rose 0.1 percent in December after rising 0.2 percent for three consecutive months. For all of 2015, core CPI rose 2.1 percent, the biggest 12-month gain since mid-2012, and up from a 1.6 percent increase in 2014. Last month, energy prices fell 2.4 percent, with gasoline plunging 3.9 percent. Energy prices declined 1.3 percent in November, while gasoline fell 2.4 percent. Food prices fell for a second consecutive month in Decemer. Energy prices and a strong U.S. dollar have been major factors limiting overall inflation. The Fed last month raised a key interest rate for the first time in nine years despite tame inflation. Central-bank officials have said the pace of future rate increases will depend on signs that inflation is starting to accelerate closer to the Fed’s target of 2 percent annual price gains. However, since central-bank policymakers met in December, oil prices have fallen further, suggesting it might take even longer for the Fed to near its inflation target. --SPA 21:40 LOCAL TIME 18:40 GMT www.spa.gov.sa/w