CPI: November Consumer Inflation Slowed to 3.1% Annual Gain - Modern Distribution Management

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CPI: November Consumer Inflation Slowed to 3.1% Annual Gain

Core inflation edged up 0.3% month-to-month and ended November up 4% from a year earlier.

Consumer-facing inflation edged up higher in November, but at a continued decelerating pace that was in line with expectations, according to the U.S. Labor Department and media reports.

The Bureau of Labor Statistics released its monthly Consumer Price Index Summary on Dec. 12, showing that its all items index increased 3.1% for the 12 months ending November, a slight deceleration from October’s 3.1%. On a monthly basis, November’s all items index increased 0.1% after being unchanged in October.

The index for shelter continued to rise in November, offsetting a decline in the gasoline index. The energy index fell 2.3% over the month as a 6.0% decline in the gasoline index more than offset increases in other energy component indexes. The food index increased 0.2% in November after rising 0.3% in October.

The index for all items less food and energy — known as core inflation — rose 0.3% in November, after rising 0.2% in October. Indexes that increased in November include rent, owners’ equivalent rent, medical care and motor vehicle insurance. The indexes for apparel, household furnishings and operations, communication and recreation were among those that decreased on a monthly basis in November.

On a year-over-year basis, November’s core inflation rose 4.0%, identical to October. The year-over-year energy index decreased 5.4%, while the food index increased 2.9%.

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