AABP EP Awards 728x90

November CPI exceeds expectations

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

Driven by energy costs, consumer prices climbed 0.8 percent in November, more than in any month during the past two years, according to a government report released today.

Reuters reported that the Consumer Price Index, the most widely used gauge of inflation, increased at the fastest rate since September 2005. Energy costs rose 5.7 percent, accounting for nearly 70 percent of the increase. Analysts polled by Reuters had expected the CPI to climb 0.6 percent.

Consumer prices measured 4.3 percent higher than a year ago, the steepest increase since a matching gain in June 2006 and above the 4.1 percent rise forecast by economists. But stripping out food and energy, prices were up 2.3 percent from November 2006, which was in line with expectations.

Core prices, which exclude volatile food and energy costs, increased 0.3 percent in November, the biggest jump since the same increase in January. Analysts had anticipated a 0.2 percent rise in core prices.

rebuildingtogether brd 060125 300x250 1