News Column

US Inflation Declines 0.3 Percent in November

Dec. 14, 2012
Gas Pump

US consumer prices declined 0.3 percent in November, largely due to a drop in the cost of petrol that more than offset price increases, the federal Bureau of Labor Statistics said on Friday.

The petrol index fell 7.4 per cent in November, resulting in the decline in the seasonally adjusted all items index, it said in a report. It is the first decline in the consumer price index since May and it compares with an increase of 0.1 per cent in October.

So-called core inflation, which excludes the volatile prices for energy and food, showed an increase of 0.1 per cent from October, reflecting a hike in the cost of housing, cars, medical care, clothing and airline fares. October's core inflation was 0.2 per cent.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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