Wednesday, December 17, 2014

CPI Declined in November, Mostly Due to Gasoline

The Consumer Price Index declined 0.3% in November on a seasonally adjusted basis, primarily due a decline in the index for gasoline, the U.S. Bureau of Labor Statistics reported. The all items index increased 1.3% in the past year, before seasonal adjustment, a notable decline from the 1.7% figure from the 12 months ending in October.

The index for all items less food and energy rose 0.1% in November following a 0.2% increase in October, and has risen 1.7% over the last 12 months, compared to 1.8% for the 12 months ending in October

The energy index declined 3.8% in November, the fifth monthly decline in a row, and 4.8% over the past 12 months. The gasoline index fell 6.6%, the sharpest decline since December 2008 and was the main cause of the decrease in the seasonally adjusted all items index. The indexes for fuel oil and natural gas declined 3.5% and 1.7%, respectively.

The index for food prices increased 0.2% on a seasonally adjusted basis, and increased 3.2% in the past year before seasonal adjustment. The index for food at home rose 0.1% in November and has risen 3.4% over the past year. The index for food away from home increased 0.4% in November, its largest increase since January 2012, and has risen 2.9% over the past year.

Electricity was the only major component index to rise in November; it increased 0.1% and has risen 2.8% over the past year.

Read the Bureau of Labor Statistics report.

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