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Free AccessMNI ANALYSIS: US November CPI Rises 0.4%, Core Up 0.1%>
--Overall CPI Rises To +2.2% Y/Y, Core CPI Now +1.7% Y/Y Vs +1.8% Oct
By Kevin Kastner, Sara Haire and Holly Stokes
WASHINGTON (MNI) - The Consumer Price Index rose by 0.4% in
November, as expected, while core CPI posted a softer-than-expected
0.1% rise compared with the 0.2% gain expected, data released Wednesday
by the Bureau of Labor Statistics showed.
Unrounded, the month/month rise for core CPI was +0.117%, so it was
on the high side of 0.1%. Analysts' forecasts for CPI are very
frequently on target, especially for core CPI, so today's data maintain
that trend.
Overall, the data points to contained core consumer inflation, with
the year/year rate remaining well below the 2% threshold, allowing the
FOMC to maintain a very slow pace of policy tightening.
The year/year rate for overall CPI now stands at 2.2%, up from
the 2.0% rate in October. For core CPI, the year/year rate slipped to
1.7% from 1.8% in October, which was the highest point since April.
Within core CPI, owners equivalent rents rose 0.2% after a 0.3%
rise in the previous month, but lodging away from home fell 1.3%. Prices
of new vehicles were rose 0.3% and used vehicles prices were up 1.0%,
but apparel prices fell by 1.3%.
Energy prices jumped 3.9% in the month, with a 7.3% rebound in
gasoline prices and a 5.0% rise in fuel oil prices. Excluding only
energy prices, the November CPI would have been up only 0.1%.
Food prices were flat in November, with food at home down 0.1%, but
food away from home up 0.2%.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
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Why MNI
MNI is the leading provider
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