Economics
U.S. Inflation Measure Rose by More Than Forecast in November
- Consumer price index and core measure both rise 0.2%
- Services costs pick up though broader inflation still subdued
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A measure of prices paid by U.S. consumers rose in November by more than forecast as costs of hotel stays, airfares and apparel jumped, though inflationary pressures elsewhere remained subdued as the pandemic continues to curb activity.
The consumer price index rose 0.2% from the prior month after no change in October, Labor Department data showed Thursday. Compared with a year earlier, the gauge rose 1.2%. The core index, which excludes volatile food and energy costs, also advanced 0.2% from the prior month and increased 1.6% from a year earlier.