Year over year, the Consumer Price Index (CPI) rose at a faster pace in November (+1.0%) than in October (+0.7%), with shelter prices (+1.9%) contributing the most to the all-items increase. Excluding gasoline, the CPI rose 1.3% in November, up from a 1.0% increase in October. On a seasonally adjusted monthly basis, the CPI rose 0.3% in November. Although consumer confidence remains below pre-pandemic levels, increased consumer spending on household durable goods supported higher prices for furniture (+2.8%) and household appliances (+2.9%), which remain above pre-pandemic levels. As the household savings rate ... (full story)