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- U.S. consumer prices up 0.3 percent in November
U.S. consumer prices up 0.3 percent in November
The Labor
Department announced on Wednesday the U.S. consumer price index (CPI) rose 0.3
percent m-o-m in November after an unrevised 0.4 percent m-o-m gain in the
previous month.
Over the last
12 months, the CPI rose 2.1 percent y-o-y last month, following an unrevised 1.8
percent m-o-m climb in the 12 months through October. That was the highest annual
inflation since November 2018.
Economists had
forecast the CPI to increase 0.2 percent m-o-m and 2.0 percent y-o-y in the
12-month period.
According to
the report, gains in the shelter (+0.3 percent m-o-m) and energy (+0.8 percent
m-o-m) indexes were major factors in the seasonally adjusted monthly increase
of the all items index. Advances in the indexes for medical care (+0.3 percent
m-o-m), for recreation (+0.4 percent m-o-m), and for food (+0.1 percent m-o-m) also
contributed to the overall rise.
Meanwhile, the
core CPI excluding volatile food and fuel costs advanced 0.2 percent m-o-m in November,
the same pace as in the previous month.
In the 12
months through November, the core CPI rose 2.3 percent, the same pace as in the
12 months ending October.
Economists had
forecast the core CPI to rise 0.2 percent m-o-m and 2.3 percent y-o-y last
month.
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