Consumer Prices (Nov.)

Both headline and core consumer prices increased by 0.2% m/m in November, as the rebound in the prices of the goods and services that fell the most in the early stages of the pandemic continued. At 1.6% last month, unchanged from the month before, core CPI inflation remains muted, but base effects and surprisingly strong cyclical pressure for this early stage of a recovery will push it well above 2% next spring.