United States: Inflation inches back up in November
December 17, 2013
In November, consumer prices registered no change over the previous month in seasonally-adjusted terms, which followed the 0.1% decrease recorded in October. The result, which matched market expectations, reflects that lower prices for energy, particularly for gasoline, were offset by higher prices for transportation.
Annual inflation increased from 1.0% in October to 1.2% in November. The core inflation index, which excludes food and energy, inched up from 0.1% to 0.2% in November, which was just above market expectations of a 0.1% rise. Annual core inflation did not change in November (October: 1.7% year-on-year) and annual average core inflation held steady at October's 1.8%.
FocusEconomics Consensus Forecast participants expect inflation to average 1.5% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, the panel expects average inflation to rise to 1.9%, which is unchanged from last month's projection.
Author: Carl Kelly, Economist