INFLATION EASED IN NOVEMBER, PRICES UP 7.1% IN LAST YEAR

Key Points:

  • The Consumer Price Index (CPI) rose 0.1% in November.
  • CPI increased 7.1% from a year ago, down from 7.7% in October, and the lowest reading since December 2021.
  • Consensus among economists was a 7.3% increase.
  • The rate of price increases remained above 5% for the eighteenth straight month.
  • The index for shelter was by far the largest contributor, increasing 0.6% over the month.
  • The core CPI, which excludes food and energy, rose 0.2% in November and is up 6.0% from the previous year.
  • The energy index is up 13.1% and the food index is up 10.6% from the previous year.
  • The Right Facts will continue to monitor CPI.
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