- Headline inflation, which was higher than expected in November, has now topped 2.0% for the first time since November 2018.
- Core inflation matched expectations but remained moderately high at 2.3% year-over-year.
- Non-seasonally adjusted inflation declined 0.05%, meaning principal balances for all TIPS will decline slightly in January.
As is often the case, a main factor in November’s all-items increase was a 1.1% increase in the price of gasoline, which is still down slightly (1.2%) year over year. But other prices also showed marked increases.