The Strategist

November inflation in the U.S. slows to five-month low

12/13/2023 - 09:58

According to the Labor Department of the United States, consumer prices (CPI) increased 3.1% in November over the same month of the previous year.
Trading Economics notes that the consensus estimate of analysts predicted inflation would drop to 3.1%.

Inflation in November was at its lowest level in five months.

The rate of decrease in energy costs quickened, rising from 4.5% in October to 5.4%. Among them, the price of petrol decreased by 8.9%.

In November, food prices grew by 2.9% (+3.3% month over month), while apparel costs increased by 1.1% (+2.6% month over month).

While used automobiles fell by 3.8%, new car prices increased by 1.3%. Growth in transportation costs picked up speed in November, rising from 9.2% in October to 10.1%.

The CPI index saw a 0.1% increase in November over the prior month following a 0% change in October. In November, experts predicted that the index would not change.