Consumer prices rise as expected
Surging energy costs pushed up consumer prices rose in November, but prices were flat excluding food and energy, the Department of Labor reported today
The agency said its Consumer Price Index leaped 0.4 percent on a seasonally adjusted basis after an unrevised 0.3 percent gain in October. A 4.1 percent burst in the energy index led the rise as gasoline, electricity, fuel oil, and natural gas prices rose.
Prices rose 1.8 percent over the last 12 months, as expected, the first year-over-year gain since February. Core prices rose 1.7 percent over the 12-month period.
When food and energy costs were stripped away, November core prices were unchanged from the previous month, the smallest change since December, as declines in shelter costs offset gains in prices for vehicles, medical care and airline fares.