US Consumer Price Growth Slowed in November
Growth of the US consumer price inflation slowed last month amid fall in the price of gasoline, but underlying inflation pressures remained firm as rent and healthcare costs continued to rise. The US Labor Department reported, that consumer price index (CPI) was unchanged in November from a month earlier. Analysts had forecast a 0.1% gain.
On an annualized basis, US consumer price inflation increased 2.2% in November, in line with expectations, slowing from 2.5% growth in October.
Meanwhile, core CPI, a key gauge of underlying consumer price pressures that excludes food and energy costs, rose by 0.2% mom in November, matching expectations. The annual increase in the core CPI was 2.2%, also in line with analysts’ estimates.
It was also reported, that gasoline prices fell by 4.2% last month, after 3.0% gain seen in October. Food prices increased 0.2% after dipping 0.1% in October. Healthcare costs gained 0.4% last month after rising 0.2% in October. Apparel prices fell by 0.9% in November after rising 0.1% in October.