Americans paid more for energy and medical care in November, bringing the cost of living up from a month earlier, according to a government report released on Wednesday.
The Labor Department’s Consumer Price Index, or "CPI" for short, climbed 0.4% last month following a 0.3% pick up in October. The increase is inline with most expectations. Leading consumer prices higher were energy costs which jumped 4.1%. Energy prices have risen for four consecutive months. Food prices rose only slightly.
Removing food and energy costs, the core CPI remained unchanged after a gain of 0.2% in October. The flat reading is a stark contrast to the 10 straight prior increases. Many economists were forecasting a rise of 0.1%.
On an annual basis, inflation rose by 1.8% as compared to the 0.2% drop in the prior 12 months reported in October.
"Over the last 12 months the index increased 1.8 percent before seasonal adjustment, the first positive 12-month change since February 2009," states the government’s report.
Core prices increased 1.7% over the past 12 months, matching the annual gain in October.
The US Inflation Calculator is updated with the latest government information, as are the following inflation rate and data pages:
- Historic CPI Data
- American Inflation Rates
- Historical US Inflation Rates
- Annual Averages for Rate of Inflation
For more detailed information on November consumer prices, read U.S. Inflation Jumps 1.8% in Past 12 Months.