US consumer prices up 6.8% in November, highest in almost 40 years

ANKARA

US consumer prices rose 6.8% in November on an annual basis, as it marked the largest 12-month increase since June 1982, according to the US Labor Department on Friday.

The Consumer Price Index (CPI), which measures changes in the price of goods and services from a consumer perspective, came in line with the market estimate, after it rose 6.2% in October.

In November, the CPI rose 0.8% from the previous month, coming higher than the market consensus of a 0.7% monthly increase. The CPI rose 0.9% the previous month.

The food index rose 0.7% in November, while the energy index increased 3.5% and the gasoline index soared 6.1%. On an annual basis, they were up 6.1%, 33.3% and 58.1%, respectively.

Core consumer prices, which exclude food and energy, rose 0.5% in November from the previous month when it increased 0.6%.

Core CPI jumped 4.9% year-on-year, marking the largest 12-month increase since the period ending June 1991, according to the Labor Department.