The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis from September to November 2025, while inflation over the past 12 months slowed to 2.7 percent, down from 3.0 percent in September, according to the US Bureau of Labor Statistics. Core inflation, which excludes food and energy, rose 2.6 percent over the year, with shelter costs up 3.0 percent. Energy prices were a major contributor, increasing 4.2 percent over the past 12 months, while food prices rose 2.6 percent, driven largely by higher costs for food away from home. Some categories, including lodging away from home, recreation, and apparel, declined over the recent two-month period. October 2025 data was not collected due to a lapse in appropriations. The BLS writes:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis over the 2 months from September 2025 to November 2025, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.7 percent before seasonal adjustment. BLS did not collect survey data for October 2025 due to a lapse in appropriations. The seasonally adjusted index for all items less food and energy rose 0.2 percent over the 2 months ending in November. From September to November, the index for shelter increased 0.2 percent. The energy index rose 1.1 percent over the same 2-month period and the food index increased 0.1 percent. Other indexes which increased over the 2 months ending in November include household furnishings and operations, communication, and personal care. In contrast, the indexes for lodging away from home, recreation, and apparel decreased over the same 2-month period.

The all items index rose 2.7 percent for the 12 months ending November, after rising 3.0 percent over the 12 months ending September. The all items less food and energy index rose 2.6 percent over the last 12 months. The energy index increased 4.2 percent for the 12 months ending November. The food index increased 2.6 percent over the last year.

Food

The index for food increased 2.6 percent over the last year. The index for food at home rose 1.9 percent over the 12 months ending in November. The meats, poultry, fish, and eggs index rose 4.7 percent over the last 12 months. The index for nonalcoholic beverages increased 4.3 percent over the same period and the index for other food at home rose 1.3 percent. The cereals and bakery products index increased 1.9 percent over the 12 months ending in November and the fruits and vegetables index rose 0.1 percent over the year. In contrast, the index for dairy and related products decreased 1.6 percent over the same period.

The food away from home index rose 3.7 percent over the last year. The index for full service meals rose 4.3 percent and the index for limited service meals rose 3.0 percent over the same period.

Energy

The index for energy increased 4.2 percent over the past 12 months. The gasoline index rose 0.9 percent over this 12-month span and the fuel oil index increased 11.3 percent over the same period. The index for electricity increased 6.9 percent over the last 12 months and the index for natural gas rose 9.1 percent.

All items less food and energy

The index for all items less food and energy rose 2.6 percent over the past 12 months. The shelter index increased 3.0 percent over the last year. Other indexes with notable increases over the last year include medical care (+2.9 percent), household furnishings and operations (+4.6 percent), recreation (+1.8 percent), and used cars and trucks (+3.6 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.7 percent over the last 12 months to an index level of 324.122 (1982-84=100). The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.7 percent over the last 12 months to an index level of 317.414 (1982-84=100). The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.6 percent over the last 12 months. Please note that the indexes for the past 10 to 12 months are subject to revision.

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