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U.S. consumer price continues to increase in November

Staff Writer |
U.S. consumer prices continued to grow in November but at a slower pace.

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Consumer Price Index (CPI), a main gauge of inflation, rose 0.2 percent in November on a seasonally adjusted basis, compared to a 0.4-percent growth in the previous month, said the Labor Department.

On a year-on-year basis, the index increased 1.7 percent, up from October' s 1.6 percent increase.

Food index remained unchanged for five consecutive months by November, while the energy index grew 1.2 percent in the month, lower than October's 3.5 percent.

Excluding the volatile food and energy categories, the so-called core CPI went up 0.2 percent in November on a seasonally adjusted basis, and was up 2.1 percent over the year, the same increase in October.

The U.S. Federal Reserve on Wednesday raised the benchmark interest rate by 25 basis points, the first time in 2016, and indicated a faster rate hike pace next year.

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