Inflation Slows in November

By Staff Writer December 14, 2022 328

The Consumer Price Index for All Urban Consumers rose 0.1 percent in November on a seasonally adjusted basis, after increasing 0.4 percent in October, the U.S. Bureau of Labor Statistics reported this week.

Over the last 12 months, the all-items index increased 7.1 percent before seasonal adjustment. The index for shelter was by far the largest contributor to the monthly all-items increase, more than offsetting decreases in energy indexes.

Indexes which declined in November include the used cars and trucks, medical care, and airline fares indexes.

The food index increased 0.5 percent over the month with the food at home index also rising 0.5 percent.

The energy index decreased 1.6 percent over the month as the gasoline index, the natural gas index, and the electricity index all declined.

The index for all items, less food and energy, rose 0.2 percent in November, after rising 0.3 percent in October. The indexes for shelter, communication, recreation, motor vehicle insurance, education, and apparel were among those that increased over the month.

The all-items index increased 7.1 percent for the 12 months ending November; this was the smallest 12- month increase since the period ending December 2021. The all-items, less food and energy, index rose 6.0 percent over the last 12 months. The energy index increased 13.1 percent for the 12 months ending November, and the food index increased 10.6 percent over the last year; all of these increases were smaller than for the period ending in October.

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Last modified on Monday, 19 December 2022 20:16