The U.S. Bureau of Labor Statistics (BLS) reported on Friday (12-10-21) that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8% in November on a seasonally adjusted basis after rising 0.9% in October. Over the past 12-months, the all-item index has increased 6.8% before seasonal adjustment. The largest 12-month increase since the period ending June 1982.
The index for food rose 0.7%, with the index for food at home increasing 0.8%. The energy index increased 3.5% month-over-month, with the gasoline index rising 6.1%. The index for all items less food and energy rose 0.5% percent in November, after increasing 0.6% in October.
The all-items index rose 6.8% for the 12-months ending in November, compared to a 6.2% rise for the period ending in October. The index for all items less food and energy rose 4.9% over the last 12 months, while the energy index rose 33.3% over the last year, and the food index increased 6.1%. These changes are the largest 12-month increases in at least 13 years in the respective series.
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