The U.S. Department of Labor released the November Consumer Price Index (CPI) reading Thursday morning. The reading came in flat against a Bloomberg consensus estimate of -0.1%. The previous reading for September was 0.1%.

Excluding food and energy, CPI took a handy jump to 0.2% from the previous reading of 0.1%. This also came in above the consensus estimate of 0.1%.

Energy fell 1.9%, after dropping 0.7% in the previous month. Gasoline slid down a whole 3%, after falling 1% in September. Food price inflation increased 0.1%, after moving up 3% in the previous month.

For the core rate, the shelter index, airline fares, household furnishings and operations, medical care, recreation, personal care, tobacco and new vehicles were among the indexes that increased. The declining indexes in October were for used cars and apparel.

On a seasonally adjusted basis, the headline CPI was up 1.7% from a year ago, compared to 1.7% in September. Excluding food and energy, the pace from a year ago was 1.8%, compared to 1.7% in September.

Consumer price inflation firmed marginally for October, but the year-over-year reading is still below the Fed’s target of 2%, especially when converted to a personal consumption expenditure basis.

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