Investing.com - Consumer price inflation in the U.S. was flat in November, while prices excluding food and energy costs inched up modestly, official data showed on Tuesday.
In a report, the U.S. Department of Labor said that consumer prices were unchanged last month, compared to expectations for a 0.1% increase, after falling 0.1% in October.
Year-over-year, consumer prices rose at an annualized rate of 1.2% in November, up from 1% in October and below forecasts for a 1.3% increase.
Consumer prices, excluding food and energy costs, inched up 0.2% last month, above forecasts for a 0.1% gain. Core consumer prices rose 0.1% in October. Core CPI increased at annualized rate of 1.7% last month, unchanged from October and in line with expectations.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD shedding 0.01% to trade at 1.3761.
Meanwhile, U.S. stock future indices pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.15% at the open, S&P 500 futures indicated an increase of 0.05%, while the Nasdaq 100 futures signaled a rise of 0.1%.
In a report, the U.S. Department of Labor said that consumer prices were unchanged last month, compared to expectations for a 0.1% increase, after falling 0.1% in October.
Year-over-year, consumer prices rose at an annualized rate of 1.2% in November, up from 1% in October and below forecasts for a 1.3% increase.
Consumer prices, excluding food and energy costs, inched up 0.2% last month, above forecasts for a 0.1% gain. Core consumer prices rose 0.1% in October. Core CPI increased at annualized rate of 1.7% last month, unchanged from October and in line with expectations.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD shedding 0.01% to trade at 1.3761.
Meanwhile, U.S. stock future indices pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.15% at the open, S&P 500 futures indicated an increase of 0.05%, while the Nasdaq 100 futures signaled a rise of 0.1%.