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Consumer prices up 2.7 percent from November 2023 to November 2024
December 17, 2024
Over the year ended November 2024, the Consumer Price Index for All Urban Consumers increased 2.7 percent (not seasonally adjusted). Food prices were 2.4 percent higher than a year earlier, and energy prices were 3.2 percent lower. Prices for all items less food and energy rose 3.3 percent over this 12-month period.
12-month percent change and relative importance weight, Consumer Price Index, selected categories, November 2024
Category
12-month percent change, November 2023–November 2024
Relative importance weight (percent), October 2024
All items
2.7
100.000
Food
2.4
13.467
Food at home
1.6
8.072
Cereals and bakery products
-0.5
1.051
Meats, poultry, fish, and eggs
3.8
1.719
Dairy and related products
1.2
0.737
Fruits and vegetables
1.1
1.390
Nonalcoholic beverages and beverage materials
2.8
1.021
Other food at home
0.7
2.155
Food away from home
3.6
5.394
Energy
-3.2
6.549
Energy commodities
-8.5
3.432
Fuel oil
-19.5
0.070
Gasoline (all types)
-8.1
3.186
Energy services
2.8
3.117
Electricity
3.1
2.459
Natural gas (piped)
1.8
0.658
All items less food and energy
3.3
79.985
Commodities less food and energy commodities
-0.6
18.413
Apparel
1.1
2.584
New vehicles
-0.7
3.558
Used cars and trucks
-3.4
1.875
Medical care commodities
0.4
1.456
Alcoholic beverages
1.8
0.844
Tobacco and smoking products
6.6
0.556
Services less energy services
4.6
61.572
Shelter
4.7
36.600
Rent of primary residence
4.4
7.722
Owners' equivalent rent of residences
4.9
27.093
Medical care services
3.7
6.524
Physicians' services
2.8
1.817
Hospital services
3.8
1.993
Transportation services
7.1
6.579
Motor vehicle maintenance and repair
5.7
1.268
Motor vehicle insurance
12.7
3.013
Airline fares
4.7
0.798
Prices for food at home (which made up 8.1 percent of the total Consumer Price Index) increased 1.6 percent over the last 12 months. Prices for food away from home (which were 5.4 percent of the total) rose 3.6 percent.
Within the energy category (which made up 6.5 percent of the total), prices for gasoline decreased 8.1 percent from November 2023 to November 2024, electricity prices rose 3.1 percent, while prices for natural gas service increased 1.8 percent.
Shelter prices (which accounted for 36.6 percent of the total) increased 4.7 percent.
Prices for transportation services increased 7.1 percent over the year, within this category, prices for motor vehicle insurance increased 12.7 percent over the year.
United States Department of Labor
