The consumer price index increased 2.7% in November 2024 from a year earlier, according to the Bureau of Labor Statistics.
by Greg Iacurci
CNBC.com
Consumers saw inflation pick up slightly in November as price increases in categories including groceries, gasoline and new cars outweighed a deceleration in others such as shelter during the month.
The consumer price index, a key inflation gauge, rose 2.7% last month relative to November 2023, the Bureau of Labor Statistics reported Wednesday. The annual rate was up from 2.6% in October.
“I don’t see an acceleration” of inflation, said Mark Zandi, chief economist at Moody’s. “But I think it’s persistently too strong.”