US Inflation Data Released

The U.S. Department of Labor has released the inflation data for November. Month-over-month inflation was recorded at 0.3%, while year-over-year inflation stood at 2.7%. Core inflation reached a yearly rate of 3.3%.

Changes in the shelter and food indexes saw the shelter index increase by 0.3% in November, accounting for nearly 40% of the overall monthly increase. The food index also rose during the month, increasing by 0.4%. The index for food at home went up by 0.5%, while the index for food away from home saw a 0.3% rise. Conversely, the index for cereals and bakery products dropped by 1.1%, marking the largest decline since 1989.

Increases in energy and other items were noted, with the energy index rising by 0.2% in November. The gasoline index increased by 0.6%, while the natural gas index rose by 1%. In contrast, the electricity index decreased by 0.4% during the month. The index for all items excluding food and energy saw a 0.3% increase, while the communication index fell by 1% in November.

Looking at annual changes, the index for all items excluding food and energy saw a rise of 3.3% over the last 12 months. The shelter index increased by 4.7% during this period. Indexes for vehicle insurance (12.7%), healthcare (3.1%), and education (4.2%) also experienced increases. Meanwhile, the energy index fell by 3.2%, reflecting a decrease in fuel prices.