Inflation posted a slight deceleration in November, with most of the component indexes posting similar figures with the previous month.
- The Consumer Price Index for All Urban Consumers stood at 0.8% in November, slower than the 0.9% recorded the previous month. This brought the unadjusted 12-months average inflation ending November to a 39-year-high of 6.8%.
- The largest contributors to inflation for the month were gasoline, shelter, food, used cars and trucks, and new vehicles. Core inflation decelerated to 0.5% from 0.6% the previous month.
- Food inflation for the month stood at 0.7%, slower than the 0.9% in October. Energy inflation likewise decelerated to 3.5% versus the 4.8% recorded in the previous month.
The biggest price hikes were for the month were recorded in gasoline, which climbed 6.1%, unchanged from the previous month.
Source: Bureau of Labor Statistics