Consumer Price Index drops slightly during November

Prices in the western region of the United States dropped slightly in November, according to the U.S. Bureau of Labor Statistics.

The consumer price index dropped .2 percent last month, influenced by lower prices for electricity and gasoline.

During the last 12 months, the consumer price index rose 3.2 percent. Energy prices jumped 13.4 percent, largely due to higher gasoline prices. The index for all items minus food and energy increased 2 percent since November 2010.

Food prices were unchanged last month. Prices for food at home decreased .4 percent and prices for food away from home were up about 2.7 percent.

The energy index declined 2.5 percent during the month, due to lower prices for electricity. Prices for gasoline were 1.7 percent lower and prices for natural gas service decreased 6.8 percent in November.

Energy prices increased 13.4 percent during the year, with gasoline prices jumping 20.9 percent. Prices for electricity advanced 2.4 percent and prices for natural gas rose .4 percent.

The Consumer Price Index is a measure of the average change in prices over time in a fixed market basket of goods and services. It is based on the prices of food, clothing, shelter, fuels, transportation fares, health care services, drugs and other goods people buy every day.

Comments are closed.