CPI falls in November
December 17, 2003
On a seasonally adjusted basis, the Consumer Price Index for all Urban Consumers (CPI-U), which was unchanged in October, declined 0.2 percent in November.
Energy costs declined 3.0 percent, following a 3.9-percent drop in October. Within energy, the index for petroleum-based energy declined 4.4 percent and the index for energy services fell 1.4 percent.
The index for food rose 0.4 percent with the index for food at home up 0.7 percent. A 3.2-percent increase in the index for meats, poultry, fish, and eggs, reflecting a sharp rise in beef prices, accounted for the advance in grocery store food prices.
The index for all items less food and energy declined 0.1 percent in November, following a 0.2-percent increase in October. Downturns in the indexes for apparel, for household furnishings and operations, and for public transportation, coupled with a moderation of the rise in the index for shelter, were responsible for the deceleration between October and November.
For the 12-month period ended in November, the CPI-U increased 1.8 percent (as shown in the chart).
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, CPI falls in November on the Internet at https://www.bls.gov/opub/ted/2003/dec/wk3/art03.htm (visited February 16, 2020).
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