The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in November, matching the increase in October.
Year over year, prices for services rose at a slower pace in November compared with October. Lower prices for travel tours and traveller accommodation, in addition to slower growth for rent prices, put downward pressure on the all-items CPI.
Offsetting the slower growth in services on an annual basis were higher prices for goods, driven by price increases for groceries as well as a smaller decline for gasoline prices. Excluding gasoline, the CPI rose 2.6% for the third consecutive month.
The CPI rose 0.1% month over month in November. On a seasonally adjusted monthly basis, the CPI increased 0.2%.
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