WASHINGTON (AP) – U.S. consumer prices fell in December and for 2015 overall, rose by the smallest amount in seven years, reflecting a big drop in energy prices. The Labor Department says consumer prices slipped 0.1 percent last month after a flat reading in November. For the entire year, overall inflation was up just 0.7 percent, even smaller than a 0.8 percent rise in 2014. Both years were heavily influenced by plunging energy prices. It was the weakest annual increase since a 0.1 percent rise in 2008. Core inflation, which excludes volatile energy and food costs, edged up 0.1 percent in December. That was the smallest monthly gain since August. For the full year, core inflation was up 2.1 percent after a 1.6 percent rise in 2014.
