Inflation slowed to 7.1% in November

The Consumer Price Index rose 0.1% in November on a seasonally adjusted basis after rising 0.4% in October, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, all items index increased 7.1%.

Prices for all items less food and energy, the “core CPI,” rose 0.2% in November, after increasing 0.3% in October.

The food index increased 0.5% in November, after rising 0.6% in October. The index for food at home rose 0.5% over the month, after rising 0.4% in October. In November, the increase was attributed to a rise in four of the six major grocery store food group indexes. In contrast meats, poultry, fish, and eggs declined 0.2% while the index for cereals and bakery products rose 1.1% over the month. The food away from home index increased, rising 0.5%. The food index rose 12.0% over the last 12 months.

The energy index fell 1.6% in November after rising 1.8% in October. The gasoline index declined 2.0% over the month following a 4.0% rise in October. The fuel oil index (not seasonally adjusted) rose 65.7% in September.

Read the BLS release.

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