The U.S. Labor Department released consumer price inflation data on Wednesday. The U.S. consumer price inflation declined 0.1% in December, missing expectations for a flat reading, after a flat reading in November.

The decline was mainly driven by lower energy prices, which slid 2.4% in December.

Shelter costs climbed 0.2% in December.

Gasoline prices fell 2.4% in December, while food prices decreased 0.2%.

On a yearly basis, the U.S. consumer price index increased to 0.7% in December from 0.5% in November, missing expectations for a rise to 0.8%.

The U.S. consumer price inflation excluding food and energy gained 0.1% in December, missing expectations for a 0.2% rise, after a 0.2% increase in November.

On a yearly basis, the U.S. consumer price index excluding food and energy increased to 2.1% in December from 2.0% in November, in line with expectations.

The increase of the consumer price index excluding food and energy was driven by higher prices of rents and medical care.

In 2015 as whole, consumer prices rose 0.7%, after a 0.8% increase in 2014.

The U.S. consumer price index excluding food and energy increased 2.1% in 2015, after a 1.6% gain in 2014.

The consumer price index is not preferred Fed's inflation measure.