United States Inflation November 2016

United States

United States: Inflation rises to highest level in more than two years

December 15, 2016

In November, seasonally-adjusted consumer prices increased 0.2% from the previous month in the United States. The result halved the 0.4% increase in October and marked a four-month low. November’s increase was in line with market expectations and reflected unchanged food prices, while energy prices increased from the previous month. Inflation edged up from October’s 1.6% to 1.7% in November, the highest figure since August 2014.

Core consumer prices, which exclude food and energy prices, also increased 0.2% from the previous month. This was up from October’s 0.1% rise and also in line with market expectations. Core inflation inched down from 2.2% in October to 2.1% in November.

Although the Federal Reserve targets an alternative measure of inflation called the personal consumption expenditures price index, it also follows the core inflation measure closely to judge whether inflationary pressures are increasing in the economy.

FocusEconomics Consensus Forecast participants expect inflation to average 1.3% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects inflation to average 2.2%, which is also unchanged from last month’s estimate.


Author:, Senior Economist

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USA Inflation November 2016

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.


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