CPI Unchanged In Nov As Gasoline And Apparel Decline, Shelter And Food Rise

The CPI came in unchanged for November as expected today. Energy, apparel, and transportation were all negative.

The BLS reports the CPI for All Items was unchanged in November as the price of gasoline fell while the price of shelter and food rose.


The food index rose 0.2 percent in November. The index for food away from home rose 0.3 percent, the largest increase since May.


  • The energy index fell 2.2 percent in November after rising 2.4 percent in October.
  • The gasoline index declined 4.2 percent in November following a 3.0-percent increase in October. (Before seasonal adjustment, gasoline prices fell 7.3 percent in November.)
  • The natural gas index rose 0.7 percent after declines in the previous 2 months. The electricity index rose 0.3 percent in November following a 2.3-percent increase in October.
  • The energy index increased 3.1 percent over the last 12 months, a smaller rise than the 8.9-percent increase for the 12 month period ending October.

All Items Less Food and Energy

  • The index for all items less food and energy increased 0.2 percent in November, the same increase as the previous month.
  • The shelter index increased 0.3 percent in November following 0.2-percent increases in October and September. The rent index rose 0.4 percent and the index for owners’ equivalent rent increased 0.3 percent.
  • The used cars and trucks index increased 2.4 percent in November.
  • The medical care index rose 0.4 percent in November with its component indexes mixed. The hospital services index rose 0.5 percent in November, its first increase since July, and the index for prescription drugs also increased 0.5 percent. The index for physicians' services, in contrast, declined 0.3 percent.
  • The recreation index rose 0.4 percent in November, and the index for water and sewer and trash collection services increased 1.2 percent.
  • The index for wireless telephone services fell 2.2 percent, its largest decline since March 2017. The index for airline fares decreased 2.4 percent in November after being unchanged in October. The index for motor vehicle insurance declined 0.5 percent in November after rising 0.5 percent in October.
  • The index for all items less food and energy rose 2.2 percent over the past 12 months. The shelter index increased 3.2 percent. The medical care index rose 2.0 percent over this span, as the hospital services index increased 3.5 percent.
  • Several indexes decreased over the last 12 months. The communication index fell 1.7 percent over the span, and the indexes for apparel, lodging away from home, and airline fares also declined.
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