U.S. consumer prices down in November on cheaper energy

2012-12-14 16:11:29 GMT2012-12-15 00:11:29(Beijing Time)  Xinhua English

WASHINGTON, Dec. 14 (Xinhua) -- Cheaper energy helped push down U.S. Consumer Price Index (CPI) in November despite a modest uptick of food prices, fresh evidence that inflation pressure remained subdued, reported the Labor Department on Friday.

The CPI, which tracks inflation at the retail level, edged down 0.3 percent in November compared with the previous month.

The report said that energy prices dropped 4.1 percent in November. Gasoline prices declined 7.4 percent. Food costs rose 0.2 percent.

Excluding the volatile food and energy categories, the so-called "core" inflation index rose 0.1 percent in November.

Economists monitor core prices to get a sense of broader inflation trends, a key barometer for monetary policy decisions of the Federal Reserve. The Fed on Wednesday said that the nation's long-term inflation expectations have remained stable and below the Fed's 2-percent objective.

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