Consumer Prices Rose 0.4% in November

The Consumer Price Index grew 0.4% in November on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.1% October increase. Over the last 12 months, the all-items index rose 2.2%.

Prices for all items less food and energy, the “core CPI,” grew 0.1% in November, following a 0.2% October increases. The index rose 1.7% for the 12 months ending in November.

The food index was unchanged, while prices for food fell 0.1%. Food away from home grew 0.2%. Over the past 12 months, food prices are up 1.4%.

The energy index jumped 3.9% in November after a 0.1% decline in October. The November increase was driven by a 7.3% rise in gasoline prices. The energy index rose 9.4% in the last twelve months.

Read the BLS release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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