In November, consumer prices were unchanged on a seasonally adjusted month-over-month basis according to data released by the Bureau of Labor Statistics (BLS). A month-over-month drop in the energy index was offset by increases in other components in the all items index. Over the past twelve months, prices on expenditures made by urban consumers increased 1.2% before seasonal adjustments.

The energy price index decreased for the second straight month, decreasing in November by 1.0% following a 1.7% month-over-month decrease in October. The gasoline index, a component of the energy price index, experienced another large month-over-month decrease at 1.6%. The index for natural gas also experienced a large decrease of 1.8% after dropping 1.0% month-over-month in October.

In November, Core CPI, which excludes more volatile food and energy prices, rose by 0.2% month-over-month. Over the past twelve months Core CPI increased by 1.7%.

The shelter index rose 0.3% month-over-month in November…