Inflation rises 0.1% in November, slightly more than expected

December 12, 2023 at 08:36 AM EST

The Labor Department released the closely watched November consumer price index report on Tuesday, revealing just how hot inflation was running last month.

The Labor Department said Tuesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.1% in November from the previous month, slightly more than expected.

Prices climbed 3.1% from the same time last year, which is in line with estimates by Refinitiv economists.

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