Consumer Price Index: Inflation Decreased 0.4%
Consumers paid 1.7% more in November 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation decreased 0.4 percentage points from the 2.1% measured in October 2016.
The Consumer Price Index report said, “Between October 2016 and November 2016, the average cost of goods and services in the CPI decreased 0.5%. The all-items index dropped to 102.2 in November. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $102.20.
“The Transport & Foreign Travel sector was the largest contributor to the year-over-year change. This sector decreased 2.1% year-over-year, led by an 11.2% drop in the average cost in air fares. In contrast, the Education, Recreation, Entertainment & Reading sector rose 4.0% year-over-year.”
The full November h2016 Consumer Price Index follows below [PDF here]:
