CPI Flat in November, Core Inflation Up 0.2%

The US Bureau of Labor Statistics has released the Consumer Price Index (CPI)for November. The CPI for all urban consumers is unchanged from October, while the core index, which includes food and energy costs, rose 0.2%. Economists were expecting a gain of 0.1% in each of the indexes.

The all-items index for the preceding 12 months yields a seasonally adjusted annual inflation rate of 3.4%. Core inflation continues to rise, settling at a seasonally adjusted annual rate in November of 2.2%.

Energy costs declined for the second straight month, dropping -1.6% in November on top of a -2% drop in October. Clothing costs rose 0.6% and medical care rose 0.5% in the month, and posted seasonally adjusted rates of 4.8% and 3.5%, respectively.

Food costs rose 0.1% in November and the seasonally adjusted rate of food inflation now stands at 4.6%. The cost of eating at home fell -0.1%, while the cost of dining out (not seasonally adjusted) rose 0.3%.