U.S. consumer prices stayed flat in November, held down by falling gas prices. Inflation remains low across the broader economy, giving the Federal Reserve latitude to continue its extraordinary stimulus program.
The Labor Department says the consumer price index was unchanged last month, after dropping 0.1 percent in October.
Gas prices declined 1.6 percent in November to keep overall prices down. Over the past 12 months, consumer prices have risen just 1.2 percent. That is significantly below the Fed's inflation target of 2 percent.
Excluding volatile energy and food costs, core prices rose 0.2 percent in November from October and just 1.7 percent over the past 12 months.
Prices for new vehicles and clothing fell. Those declines were offset by higher prices for home rentals, hotels, airfare, and restaurant meals.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus