U.S. Consumer Prices Rise Slightly in November

The Consumer Price Index for All Urban Consumers (CPI-U) in the United States rose by a modest 0.1 percent in November on a seasonally adjusted basis, following an unchanged figure in October, as reported by the U.S. Bureau of Labor Statistics. This slight increase is primarily attributed to rising shelter costs, which counterbalanced declines in energy prices, particularly gasoline. Over the past year, the all items index has seen an increase of 3.1 percent before seasonal adjustment.

The shelter index, which includes costs for rent and owners' equivalent rent, continued its upward trajectory in November. This rise in shelter costs played a significant role in the overall increase in the CPI-U. Conversely, the energy index fell by 2.3 percent in the same month, driven by a 6-percent decrease in the gasoline index, which more than offset increases in other energy components like natural gas and electricity.

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Food prices also showed a slight increase of 0.2 percent in November, following a 0.3 percent rise in October. The food at home index edged up by 0.1 percent, while the index for food away from home saw a more substantial rise of 0.4 percent. The food index's annual increase stood at 2.9 percent, with notable rises in the indexes for cereals, bakery products, fruits, vegetables, and nonalcoholic beverages.