Consumer Price Index Increases 0.1% in November; All-Item Index Up 3.1% Year-Over-Year

The US Bureau of Labor Statistics on Tuesday (12-12-23) reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in November, on a seasonally adjusted basis, after being unchanged in October. Over the past 12 months, the all-item index has increased 3.1% before seasonal adjustment.

According to the BLS, the index for shelter continued to rise in November, offsetting a decline in the gasoline index. The energy index declined 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 food at home increased 0.1% over the month, while the index for food away from home climbed 0.4% higher.

The index for all items less food and energy increased 0.3% in November, after rising 0.2% in October. Other indexes that increased in November included rent, owner’s equivalent rent, medical care, and motor vehicle insurance. The indexes for apparel, household furnishings and operations, communications, and recreation were among those that decreased.

The all-items index increased 3.1% for the 12 months ending in November, a smaller increase than the 3.2% increase posted for the 12 months ending in October. The all items less food and energy index rose 4.0% over the last 12 months, as it did in October. The energy index decreased 5.4% for the 12 months ending in November, while the food index increased 2.9%.