WASHINGTON (AP) — U.S. inflation ticked down again last month, with cheaper gas helping further lighten the weight of consumer price increases in the United States.
U.S. inflation ticked down again last month, with cheaper gas helping further lighten the weight of consumer price increases in the United States.
At the same time, the latest data on consumer inflation showed that prices in some areas — services such as restaurants, used cars and auto insurance — continued to rise uncomfortably fast.
Tuesday’s report from the Labor Department said the consumer price index rose just 0.1% from October to November. Compared with a year earlier, prices were up 3.1% in November, down from a 3.2% year-over-year rise in October.
Core prices, which exclude volatile food and energy costs, rose 0.3% from October to November, slightly faster than the 0.2% increase the previous month. Measured from a year ago, core prices rose 4%, the same as in October. The Federal Reserve considers core prices to be a better guide to the future path of inflation.
The mixed picture in Tuesday’s inflation report will likely keep the Fed on track to leave its benchmark interest rate unchanged when its latest meeting ends Wednesday.
