Consumer prices stateside were reportedly unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and health-care costs.
Figures released Wednesday by the U.S. Labor Department revealed that last month’s flat reading in its Consumer Price Index followed a 0.3% increase in October, the weakest reading in eight months.
In the 12 months leading up to November, inflation rose 2.2%, slowing from October’s hike of 2.5%.
Excluding the volatile food and energy components, the CPI increased 0.2%, matching October’s gain. In the 12 months through November, the so-called core CPI increased 2.2% after climbing 2.1% in October.
Economists had forecast the CPI unchanged and the core CPI gaining 0.2% in November.
