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Friday, December 14, 2018 9:57:12 AM EST

CPI Updated 12-Dec-18 09:22AM ET

Total CPI was unchanged month-over-month in November, as expected, while core CPI, which excludes food and energy, was up 0.2%, also as expected.

Total CPI was up 2.2% year-over-year, versus 2.5% in October, and core CPI was up 2.2%, versus 2.1% in October.

The gasoline index declined 4.2%, which helped offset increases in a number of other indexes.

The food index was up 0.2%.

The shelter index increased 0.3% and was the main driver of the uptick in core CPI along with a 2.4% increase in the index for used cars and trucks.

The apparel index declined 0.9%.

The key takeaway is that consumer inflation trends are not running away from the Federal Reserve's longer-run target, which should feed into the market's growing belief that the Federal Reserve has some data-based scope to take it easy after a December rate hike.
All Items0.0%0.3%0.1%0.2%0.2%
Food and Beverages0.2%-0.1%0.1%0.1%0.1%
Equivalent Rent0.3%0.3%0.2%0.3%0.3%
Motor Fuel-4.2%3.0%-0.2%3.0%-0.6%
Medical Care0.4%0.2%0.2%-0.2%-0.2%
Educ and Commun-0.5%-0.1%0.1%0.2%0.2%
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