WASHINGTON — November CPI was unchanged, with core up 0.2% (0.15455% unrounded).
These represented a 1.2% gain overall and a 1.7% rise in the core over the year. The overall result was a little better than expected and the core a little worse, but the bottom line is that this report represents still modest inflation.
Food posted a 0.1% gain as prices of fruit and vegetables, meats, and eggs fell. Dairy products were up 0.4% after an October dip.
Energy posted a 1.0% decline, with gasoline down 2.9% (3.3% before seasonal adjustment) and natural gas off 1.8%. Electricity and fuel oil rose, however.
In core, airfares at a 2.6% increase, cable television up 0.5%, tobacco 0.2% higher, and drugs up 0.2% boosted the total. These were offset by used cars at a 0.1% rise (down 1.1% before adjustment) and apparel fell 0.4% in a third drop. Clothing prices fell for men and children, but were up for women's dresses. New vehicles posted a 0.1% dip.
Owners' equivalent rent was up 0.3%, with no reason given. Airfares, medical care, and shelter continue to increase at a faster pace than other prices, but overall prices remain tame.
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