Washington, D.C. -- The Labor Department reported Wednesday that the consumer-price index increased 0.1% in November after a 0.2% rise the prior month. The rise was less than forecast, indicating higher prices for commodities such as fuel aren’t filtering through into other goods and services.
The median estimate of economists in a Bloomberg News survey called for a gain of 0.2%. The so-called core measure, which excludes more volatile food and energy costs, also rose 0.1%, matching the median forecast.
“Inflation is a non-threat right now, there’s a lot of slack in the economy,” Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pa., told Bloomberg. “Inflation will remain very subdued and tepid over the next several months.”
The measure of consumer prices was restrained by a second straight drop in new vehicle costs, cheaper household furnishings and a decline in natural gas.
A Labor Department report on Tuesday showed the producer- price index in November increased 0.8% and the cost of goods excluding fuel and food rose 0.3%, both more than forecast. The cost of goods imported into the United States, reported last week, rose 1.3% from the prior month, the most in a year.