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ECON: Consumer Price Index Lower Than Expected
Posted to: Micro News
Friday, December 14, 2012 8:38 AM
- Headline CPI -0.3 vs -0.2 consensus
- Core CPI +.1 vs +.2 consensus
- Sandy had little effect on data collection
- First decline in headline CPI since May, but note that Core CPI (excludes food/energy) still rose. Thank you Gasoline (-7.4 pct)
The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.3
percent in November on a seasonally adjusted basis, the U.S. Bureau
of Labor Statistics reported today. Over the last 12 months, the all
items index increased 1.8 percent before seasonal adjustment.
The gasoline index fell 7.4 percent in November; this decrease more
than offset increases in other indexes, resulting in the decline in
the seasonally adjusted all items index. The energy index fell 4.1
percent in November despite increases in the indexes for natural gas
and electricity. The food index rose 0.2 percent with the food at
home index increasing 0.3 percent, the same increases as in October.
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