Housing Costs Drive Inflation Uptick, Gasoline Prices Provide Relief

Rent continues to rise, increasing by 0.5 percent in November, marking the 28th consecutive month of rent increases. The Consumer Price Index (CPI) rose by 0.1 percent, with the rise in rent offsetting a decline in the gasoline index. The index for shelter, including rent of primary residence and owners' equivalent rent, rose by 0.4 percent. The energy index fell by 2.3 percent due to a decline in the gasoline index. The food index increased by 0.2 percent, and the index for all items less food and energy rose by 0.3 percent. Over the past year, the all items index increased by 3.1 percent, while the all items less food and energy index rose by 4.0 percent.