Prices across a broad range of goods and services edged higher in November as energy prices declined, providing hope that inflation could be on a lower trajectory.
The consumer price index, a closely watched inflation gauge, increased 0.1% in November, and was up 3.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed by Dow Jones had been looking for no gain and a yearly rate of 3.1%.
While the monthly rate indicated a pickup from the flat CPI reading in October, the annual rate showed another decline after hitting 3.2% a month ago.
Excluding volatile and energy prices, core CPI increased 0.3% on the month and 4% from a year ago. Both numbers were in line with estimates and little changed from October.
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Source: https://www.cnbc.com/2023/12/12/cpi-inflation-report-november-2023.html