Consumer prices rise as expected
WASHINGTON (Reuters) - Consumer prices rose in line with expectations in November on a surge in energy costs, but prices were flat excluding food and energy, a government report showed on Wednesday.
The Labor Department said its Consumer Price Index leaped 0.4 percent on a seasonally adjusted basis after an unrevised 0.3 percent gain in October. A 4.1 percent burst in the energy index led the rise as gasoline, electricity, fuel oil, and natural gas prices rose.
Prices rose 1.8 percent over the last 12 months, as expected, the first year-over-year gain since February. Core prices rose 1.7 percent over the 12-month period.
When food and energy costs were stripped away, November core prices were unchanged from the previous month, the smallest change since December, as declines in shelter costs offset gains in prices for vehicles, medical care and airline fares.
Analysts were expecting a 0.1 percent rise in core prices.
(Reporting by Mark Felsenthal; editing by Jeffrey Benkoe)
