Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators U.S. consumer prices up slightly in November High energy prices helped lift the consumer price index by 0.3% By Paul Wiseman, The Associated Press | December 11, 2019 | Last updated on December 11, 2019 1 min read ayphoto/123RF Higher energy prices lifted U.S. overall consumer prices in November. The Labor Department said Wednesday that its consumer price index rose 0.3% last month after rising 0.4% in October. Energy prices, led by a 1.1% uptick in gasoline, rose 0.8% in November on top of a 2.7% jump in October. Excluding volatile food and energy prices, so-called core inflation rose 0.2% in November, matching October’s increase. Despite surging in October and November, gasoline prices are down 1.2% over the past year. Overall consumer prices were up 2.1% and core prices were up 2.3% from November 2018. That means inflation is in line with the Federal Reserve’s target of 2% a year. The Fed has cut the short-term interest rate it controls three times this year, partly to protect a record-breaking U.S. economic expansion from the effects of President Donald Trump’s trade war with China. Over the past year, the price of medical care is up 5.1% and housings costs are up 3.3%. Clothing prices are down 1.6%, and the cost of used and new cars and trucks are also down. Paul Wiseman, The Associated Press Paul Wiseman is a reporter with The Associated Press, an American not-for-profit news agency headquartered in New York City and founded in 1846. Save Stroke 1 Print Group 8 Share LI logo