U.S. inflation picked up last month as prices rose for gas, eggs, and used cars, yet underlying price pressures also showed signs of easing a bit.

Wednesday's report from the Labor Department showed that the consumer price index rose 2.9% in December from a year ago, the highest since July, up from 2.7% in November. It was the third straight increase after inflation fell to a 3 1/2 year low of 2.4% in September.