Consumer prices inched higher in November, far less than expected, data from the Department of Labor showed on Tuesday.
The consumer price index rose just 0.1 percent compared with a month earlier. Analysts had forecast a 0.3 percent rise in CPI following the 0.4 percent a month earlier.
Compared with a year ago, the index is up 7.1 percent, the smallest year-over-year rise since December 2021.
Excluding food and energy prices, so-called core CPI rose 0.2 percent after rising 0.3 percent a month earlier. Compared with a year ago, core prices are up six percent. The energy index increased 13.1 percent for the 12 months ending November, and the food index increased 10.6 percent over the last year.
Goods prices, excluding food and energy, declined in the month. Excluding energy, services were up 0.4 percent, one-tenth slower than October. Over the past 12 months, core services prices are up 6.8 percen.t
COMMENTS
Please let us know if you're having issues with commenting.