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December 12, 2023US CONSUMER PRICE INDEX, NOVEMBER 2023 The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 3.1% year-over-year in November 2023. Compared to November 2022, prices were higher in food (+2.9%) and shelter (+6.5%), and lower in energy (-5.4%) and gasoline (-8.9%). The CPI excluding food and energy rose 4.0%, the same pace as the previous month.
The month-over-month (seasonally adjusted) change in the CPI was +0.1% in November 2023, following a flat month in October. Over the past month, shelter continued to rise (+0.4%) marking the 43rd consecutive month of growth. The food index was up 0.2% compared to the previous month. These increases were partially offset by a month-to-month decline in the energy index (-2.3%), including a 6.0% decline in gasoline prices over October. The CPI excluding food and energy index was up 0.3% for the month.
Note:
Canada and Nova Scotia November 2023 CPI figures will be released on December 19, 2023.
Sources:
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
US Bureau of Labor Statistics, retrieved from Federal Reserve Bank of St. Louis using the FRED API.
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