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US consumer prices up 0.2 percent in November

US consumer prices up 0.2 percent in November”

The corresponding 12-month year-on-year average percentage change for the urban index increased from 15.32 per cent in October to 16.19 percent in November, while the corresponding rural index also increased from 13.25 percent in October to 13.9 percent in November.

"The Consumer Price Index (CPI) which measures inflation increased by 18.48 percent (year-on-year) in November 2016, 0.15 percentage points higher than the rate recorded in October (18.33 percent)", the NBS said in a statement. The index for dairy and related products fell 0.6 percent in November after rising in September and October.

Prices of women's and men's outerwear rose particularly in the period between October and November 2016, according to the United Kingdom consumer price inflation: Nov 2016 report by the Office for National Statistics (ONS).

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The gauge increased 1.7 percent in the 12 months ended in November, the most in two years. Excluding the volatile food and energy components, prices were also 0.2% higher, meeting the median forecast.

There were increases in the prices of a range of other goods and services last month including used cars and trucks, which rose for the first time since February. The result reflects the fact that gasoline prices rose 2.5 percent last month, less than half the 6.7 percent October gain. Whether it is inflationary enough for three rate hikes in 2017 remains to be seen.

"We still believe that domestic price pressures remain strong and supportive of core CPI, which is evident in solid core services inflation, in particular the shelter component", Barclays economist Blerina Uruçi said in a note to clients. It rose 1.6 percent in the year to October. As compared to November of a year ago, grocery prices were down by 2.2%, the Bureau said.

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The energy index rose in November, increasing 1.2 percent after a 3.5 percent rise in October. That is the longest stretch since 1970, when the labor market was much smaller. Import prices were down 0.1% in November from a year earlier, their 28th consecutive year-over-year decline, according to Labor Department data. (Before seasonal adjustment, gasoline prices decreased 2.4 percent in November.) The electricity index was unchanged in November after rising in each of the 4 previous months. The cost of motor vehicle insurance increased 1.0 percent.

Apparel prices also fell, reversing October's increase.

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