US consumer price inflation rose 0.1% month-on-month/3.1% year-on-year in November while the core rate (ex food and energy) increased 0.3% MoM/4% YoY. This was broadly in line with expectations – although headline was forecast to be 0% rather than 0.1% MoM. The details show energy was a big downward influence, falling 2.3% MoM while new vehicles fell 0.1% for the second month in a row and apparel prices fell 1.3% MoM. However, used car prices surprisingly jumped 1.6% MoM, medical goods and services rose 0.5% and 0.6% respectively while the cost shelter remained firm. Insurance costs (particularly for vehicles) ... (full story)