Inflation Inches Up By 0.1% In November 2023, Maintaining Its Grip On The Economy
The Consumer Price Index, which measures inflation, increased 0.1% in November 2023 compared to the previous month. On an annual basis, the CPI rose 3.1% in November 2023 compared to the same month the previous year. This was unchanged from the 3.1% rise in October 2023. Core CPI, which excludes volatile food and energy prices, increased 0.3% in November month-over-month and was up 4% year-over-year, in line with estimates. A 2.3% drop in energy prices helped keep overall inflation in check as gasoline fell 6% and fuel oil declined 2.7% in November. Food prices rose 0.2% for the month as food away from home increased 0.4%.
Transcript
00:00 Benzinga and here's what's on the block. The Consumer Price Index, which measures inflation,
00:04 increased 0.1% in November of 2023 compared to the previous month. On an annual basis,
00:10 the CPI rose 3.1% in November 2023 compared to the same month the previous year. This was unchanged
00:16 from the 3.1% rise in October of 2023. Core CPI, which excludes volatile food and energy prices,
00:22 increased 0.3% in November month over month and was up 4% year over year in line with estimates.
00:27 A 2.3% drop in energy prices helped keep overall inflation in check as gasoline fell 6% and fuel
00:33 oil declined 2.7% in November. Food prices rose 2.2% for the month as food away from home increased
00:40 0.4%. For all things money, visit Benzinga.com.