November US Consumer Prices Up 0.3% on Rising Energy Costs

Higher energy prices lifted U.S. overall consumer prices in November.

The Labor Department said Wednesday that its consumer price index rose 0.3% last month after rising 0.4% in October.

Energy prices, led by a 1.1% uptick in gasoline, rose 0.8% in November on top of a 2.7% jump in October.

Excluding volatile food and energy prices, so-called core inflation rose 0.2% in November, matching October's increase.

Overall consumer prices rose 2.1% and core prices were up 2.3% from November 2018.

That means inflation is in line with the Federal Reserve's target of 2% a year.