A Key Inflation Measures Shows Prices Ticked up in November

The Federal Reserve’s preferred inflation gauge ticked up in November in the latest sign that prices remain stubbornly elevated, while consumers spent at a healthy pace. 

Consumer prices rose 2.8 percent in November from a year earlier, the Commerce Department said Thursday, up from a 2.7 percent annual pace in October. Excluding the volatile food and energy categories, core prices also increased 2.8 percent in November from a year ago, slightly higher than October’s 2.7 percent.

Consumer spending climbed 0.5 percent in November from the previous month, the report also showed, a solid increase that hits at an economy growing at a healthy pace in the final three months of last year.

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