Consumer Price Index (CPI) Matches Consensus Forecast in November

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% in November on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported.

Over the last 12 months, the all items index rose 2.2%.

The energy index rose 3.9% and accounted for about three-fourths of the all items increase. The gasoline index increased 7.3%, and the other energy component indexes also rose. The food index was unchanged in November, with the index for food at home declining slightly.

The index for all items less food and energy — the so-called core CPI — increased 0.1% in November. The shelter index continued to rise, and the indexes for motor vehicle insurance, used cars and trucks, and new vehicles also increased. The indexes for apparel, airline fares, and household furnishings and operations all declined in November.

The all items index rose 2.2% for the 12 months ending November. The index for all items less food and energy rose 1.7%, a slight decline from the 1.8% increase for the period ending October. The energy index rose 9.4% over the last 12 months, and the food index rose 1.4%.