US consumer prices rose in line with expectations in November on a surge in energy costs, but prices were flat excluding food and energy, a government report showed today.
The Labor Department said its Consumer Price Index leaped 0.4 per cent on a seasonally adjusted basis after an unrevised 0.3 per cent gain in October. A 4.1 per cent burst in the energy index led the rise as gasoline, electricity, fuel oil, and natural gas prices rose.
Prices rose 1.8 per cent over the last 12 months, as expected, the first year-over-year gain since February. Core prices rose 1.7 per cent over the 12-month period.
When food and energy costs were stripped away, November core prices were unchanged from the previous month, the smallest change since December, as declines in shelter costs offset gains in prices for vehicles, medical care and airline fares.
Analysts were expecting a 0.1 per cent rise in core prices.
Reuters