Consumer Prices Rise 0.2% in November
rices paid by consumers rose 0.2% in November as gasoline prices fell during the month, the Labor Department reported Friday.
November's increase followed a 0.6% gain in October. Excluiding food and energy, core prices rose 0.2% for a second straight month.
The CPI is the government's broadest gauge of costs for goods and services. Almost 60% of the CPI covers prices consumers pay for services. If consumer prices are rising, it could reflect an uptick in demand for consumer goods, which increases the demand for trucking services.
Food prices, which account for about a fifth of the index, rose 0.2%. The cost of all goods including cars, apparel and food fell 0.1%.
Consumer prices were up 3.5% for the 12 months ended in November, compared with a 3.2% year-over-year gain the previous month. The 12-month change in November core prices compared with a 2% year-over-year increase in October.
So far this year, consumer prices are rising at a 3.7% annual rate. Core prices are rising at a 2.3% clip.
