The consumer price index rose 0.4% in November, boosted by a large monthly increase in gasoline prices, the Labor Department reported yesterday.
However, core consumer prices, which exclude food and energy costs, were unchanged for the month, highlighting the extent that energy price increases contributed to November's overall CPI increase. Still, core prices rose 1.7% for the year ending in November.
Economists polled by Thomson Reuters expected the CPI to increase 0.4% in November and for core prices to increase 0.1%, according to the median estimate. Total consumer prices rose an unrevised 0.3% in October.