CPI Up 0.1%; Core Prices Up 0.1%

In November, the Consumer Price Index rose 0.1%. Unlike in most recent months, energy prices did not rise by a significant amount. Therefore, the core index, which excludes prices of energy and food products, rose by a similar 0.1%.

From a year prior, the CPI was 1.1% higher, tying its recent low of 1.1% in September. The core CPI was up by just 0.7% from a year prior. This was just 0.1% above October’s year-over- year change, which was the smallest rise in the post WWII era. There currently remains a very low level of underlying inflation. This number further supports the Fed’s view that inflationary pressure is currently very mild if not outright deflationary.

Mo. % Change	Nov	Oct	Sep	Aug	Jul	Jun
CPI	0.1	0.2	0.1	0.3	0.3	-0.1
Core CPI	0.1	0.0	0.0	0.0	0.1	0.2
Year/ Year % Ch.
CPI	1.1	1.2	1.1	1.2	1.3	1.1
Core CPI	0.7	0.6	0.8	1.0	1.0	1.0