The US Bureau of Labor Statistics released its monthly data, stating that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.3 % in November on a seasonally adjusted basis, after rising 0.4% in October.
Despite historically low unemployment coupled with tariffs on Chinese imports, this signals that inflation remains in check.
American households paid more for energy, food, rent, and healthcare in November.
Source: US Department of Labor
The Energy Index
The price of gasoline increased by 1.1%, and the other major energy component indexes also increased 0.8% in November. Other major energy categories also saw an increase, with electricity edging up 0.3% and natural gas increasing 1.1%.
Over the past 12 months, the energy index has decreased 0.6%. Gasoline prices declined 1.2% over the past year, and the fuel oil index fell 6.7% over the past 12 months. Conversely, the natural gas index rose 1.1% and the electricity index increased 0.5% over the year.
The Food Index
Food prices edged up 0.1%, rising for a third straight month, with the categories for both food at home and food away from home both increasing over November.
Food at home increased 0.1%, after seeing a 0.3% increase in October. Likewise, the food away from home index increased 0.2%.
Over the last 12 months, the food at home index increased 1.0%. The food away from home category also increased 3.2% over the past 12 months.
Source: US Department of Labor
All Items Less Food And Energy
The shelter index rose 0.3% in November. The index for rent also rose 0.3%, while the index for owners’ equivalent rent increased 0.2% over the month. Over the past 12 months, the index for shelter has increased 3.3%. The medical care index increased 0.3 percent. Over the past year, the index for medical care rose 4.2%.
Overall, the index for all items less food and energy rose 2.3% over the past 12 months.
Sarah has been writing on the topics of politics, history and finance for over a decade. She is currently an editor at CPI Inflation Calculator, covering the topics of CPI, inflation, US economy and economic commentary.
