U.S. Consumer Prices Rise 0.4% In November, In Line With Estimates
December 13 2017 - 4:35AM
RTTF2
Consumer prices in the U.S. increased in line with economist
estimates in the month of November, according to a report released
by the Labor Department on Wednesday.
The Labor Department said its consumer price index rose by 0.4
percent in November after inching up by 0.1 percent in October.
The increase in consumer prices was primarily due to a jump in
energy prices, which surged up by 3.9 percent in November after
dropping by 1.0 percent in the previous month.
Gasoline prices spiked by 7.3 percent, while prices for
electricity and natural gas rose by 0.5 percent and 0.6 percent,
respectively.
Excluding food and energy prices, core consumer prices ticked up
by 0.1 percent in November after rising by 0.2 percent in the
previous month. Core prices had been expected to rise by 0.2
percent.
The uptick in core consumer prices reflected a continue increase
in shelter prices as well as higher prices for motor vehicle
insurance, used cars and trucks, and new vehicles.
On the other hand, the Labor Department said the indexes for
apparel, airline fares, and household furnishings and operations
all declined in November.
Compared to the same month a year ago, consumer prices were up
by 2.2 percent and core consumer prices were up by 1.7 percent.
The Labor Department released a separate report on Tuesday
showing a slightly bigger than expected increase in producer prices
in the month of November.
The Labor Department said its producer price index for final
demand climbed by 0.4 percent in November, matching the increases
seen in the two previous months. Economists had expected prices to
rise by 0.3 percent.
Excluding food and energy prices, the core producer price index
rose by 0.3 percent in November after climbing by 0.4 percent in
October. Core prices had been expected to edge up by 0.2
percent.
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