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. Last Updated: 07/27/2016

U.S. Inflation Leaps

WASHINGTON -- A big jump in energy prices helped push consumer inflation up 2.7 percent in 1999, the highest rate in three years. But prices were relatively contained in most other areas, posting the best performance since the mid-1960s.

Outside of energy and food, "core" inflation rose just 1.9 percent last year, the smallest annual increase since a 1.5 percent rise in 1965, the Labor Department said Friday.

Last's year core rate was even better than a 2.4 percent increase in 1998 and suggests that inflation remains under control. For December, the Consumer Price Index, the most closely watched inflation gauge, was up 0.2 percent.