On a monthly basis, prices rose by 0.3% after rising 0.2% for the prior four months. Economists were expecting inflation to pick up by 0.2% from October and record a 2.7% annual increase, primarily due to unfavorable comparisons from a year ago and stubborn housing-related inflation. However, in November, shelter-related costs weren’t the primary driver for the monthly increase: Shelter prices rose 0.3% for the month, accounting for nearly 40% of the overall gain. Instead, a big push came from food (up 0.4%) and energy prices, which rose 0.2% — the category’s first increase in six months. Core CPI rose 0.3% for the fourth consecutive month, holding firm at 3.3%, where it’s been since September.

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Persons: they’re, it’s, “, ” Josh Hirt, ” Organizations: CNN, Federal Reserve, Bureau of Labor Statistics, Vanguard