The New York City skyline in the United States

United States Inflation November 2019

United States: Inflation climbs higher in November

Consumer prices rose 0.3% month-on-month in November, down from the 0.4% rise in October reading and a notch above market expectations of a 0.2% increase. Another sharp rise in energy costs—due to higher gasoline prices—a sharp increase in the cost of used cars and trucks, and higher prices for shelter drove the print. Conversely, price gains for food and medical care softened in the month. Core consumer prices—which exclude volatile items such as food and energy—rose 0.2% in November, matching September’s increase.

Inflation edged up to 2.1% in November from 1.8% in October, overshooting market expectations of 2.0%. On the other hand, core inflation was stable at 2.3%. However, the core PCE price index—an indicator closely followed by the Fed—inched down to 1.6% in October from 1.7% in September, the latest month for which data is available, continuing to track below the Fed’s 2.0% target.

Firming inflation, albeit gradually, alongside a solid November jobs report is likely to reassure the Fed that its current policy stance is suitable for the time being as its previous rate cuts continue to pass through to the economy.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest