WASHINGTON - Consumer prices edged higher by 0.1% in November, the Labor Department reported Wednesday.
Core consumer prices, excluding food and energy costs, also increased 0.1%, the first increase since July. Core prices for the year ending in November increased 0.8%. This figure was up from a 0.6% annual increase in October, the smallest 12-month gain on record.
October's consumer prices rose 0.2%, while the core was flat in the month. Total consumer prices increased 1.1% for the year ending in November.
Economists expected consumer prices would rise 0.2% and core prices would rise 0.1%, according to the median estimate from Thomson Reuters.
Gasoline prices increased 0.7% in November following a 4.6% jump in October. All energy prices increased 0.2% in November.
Rent prices increased 0.2%, the largest increase since March 2009. Airline prices rose 3.0% in November, the largest gain in more than two years.
