CPI Cools Significantly in November But Rent and Food Still Sharply Increasing – Mish Talk

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in November on a seasonally adjusted basis.

Key Points

• The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in November on a seasonally adjusted basis, after increasing 0.4 percent in October, the U.S. Bureau of Labor Statistics reported today. 
• Over the last 12 months, the all items index increased 7.1 percent before seasonal adjustment.
• The index for shelter was by far the largest contributor to the monthly all items increase, more than offsetting decreases in energy indexes. 
• The food index increased 0.5 percent over the month with the food at home index also rising 0.5 percent. 
• The energy index decreased 1.6 percent over the month as the gasoline index, the natural gas index, and the electricity index all declined.
• The index for all items less food and energy rose 0.2 percent in November, after rising 0.3 percent in October. 
• The indexes for shelter, communication, recreation, motor vehicle insurance, education, and apparel were among those that increased over the month. 
• Indexes which declined in November include the used cars and trucks, medical care, and airline fares indexes.