The Consumer Price Index (CPI) rose 1.7% on a year-over-year basis in November, following a 2.4% increase in October. This is the smallest year-over-year increase in the CPI since January 2018, primarily reflecting recent declines in gasoline prices. Excluding gasoline, the CPI rose 1.9% in November. All eight major components rose year over year. The shelter index (+2.4%) was the largest contributor to the increase. Recent interest rate increases continued to impact the mortgage interest cost index (+7.2%) in November, which recorded its largest year-over-year gain since October 2008. All eight major components rose ... (full story)