U.S. Inflation on Course During November

2018-12-12 10:33:04

(MENAFN- Baystreet.ca) Consumer prices stateside were reportedly unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and health-care costs.

Figures released Wednesday by the U.S. Labor Department revealed that last month's flat reading in its Consumer Price Index followed a 0.3% increase in October, the weakest reading in eight months.

In the 12 months leading up to November, inflation rose 2.2%, slowing from October's hike of 2.5%.

Excluding the volatile food and energy components, the CPI increased 0.2%, matching October's gain. In the 12 months through November, the so-called core CPI increased 2.2% after climbing 2.1% in October.

Economists had forecast the CPI unchanged and the core CPI gaining 0.2% in November.

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