US Consumer Price Index Rises 2.7% Year-Over-Year in November

On Thursday, the US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis over the combined two-month period from September to November. Over the past 12 months ending in November, the all-items index rose 2.7% before seasonal adjustment. The BLS noted that it did not collect survey data for October due to the government shutdown.

The index for all items less food and energy also rose 0.2% over the two months ending in November. From September to November, the shelter index increased 0.2%. Energy prices rose 1.1% over the same period, while the food index increased 0.1%. Other indexes posting increases over the two months included household furnishings and operations, communication, and personal care. Offsetting some of these gains, indexes for lodging away from home, recreation, and apparel declined.

Year-over-year, the all-items index rose 2.7% in November, slowing from a 3.0% increase over the 12 months ending in September. The index for all items less food and energy increased 2.6% year-over-year. Energy prices rose 4.2% over the past year, while the food index increased 2.6%.