The post Consumer Price Index (CPI) for November 2023 Rises 3.1% Year-over-year appeared on BitcoinEthereumNews.com.

In November, the Consumer Price Index for All Urban Consumers (CPI-U) in the United States, which gauges prices consumers pay for a wide variety of goods and services experienced a slight uptick of 0.1%, signifying a 3.1% increase from the corresponding period in the previous year. The new figure represents a slight decline from the  3.2% recorded in October on a yearly basis while the monthly rate reflected an improvement from the stagnant CPI reading two months ago. Major Contributors to New CPI Data According to the latest CPI data published by the United States Bureau of Labor Statistics, the surge in consumer prices was propelled by various factors. The shelter index, for instance, continued its upward trend, effectively offsetting a decline in the gasoline index. The energy index, witnessing a 2.3% decrease, was notably impacted by a significant 6.0% drop in the gasoline index, overshadowing increases in other energy component indexes. In terms of food, the index experienced a modest 0.2% increase in November, following a 0.3% rise in October. The new CPI data shows that the index for food at home edged up by 0.1%, while the index for food away from home rose by a more substantial 0.4%. In-Depth Analysis of Components Further delving into the data, the CPI  index for all items less food and energy rose by 0.3%  in November, surpassing the 0.2 % increase recorded in October. Notable contributors to this rise included indexes for rent, owners’ equivalent rent, medical care, and motor vehicle insurance. Conversely, certain sectors witnessed declines, including indexes for apparel, household furnishings, and operations, communication, and recreation. Over the last 12 months, the all-items index rose by 3.1%, though this increase was marginally smaller than the 3.2% rise observed for the 12 months ending in October. The all items less…

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Filed under: News - @ December 13, 2023 1:20 am