The falling cost of gas and food kept consumer prices in checkin November but some inflationary pressure appears to be buildingin the economy, according to the U.S. Department of Labor’sconsumer price index for November.

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Energy prices dropped 1.3% last month, with gasoline pricesfalling again, and food costs slipped 0.1% to mark the firstdecline since March, according to a review of the report byMarketWatch.

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Lower food prices partly reflects falling costs of farm cropsand other commodities. Prices for beef, eggs, fish, chicken anddairy all tacked lower. Stripping out food and energy, so-calledcore prices rose 0.2% for the third straight month. The cost ofshelter, health care, new cars and airline tickets all rose,MarketWatch said.

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Inflation, however, is no longer trending lower. From November2014 to November 2015, consumer inflation climbed 0.5%. Althoughthat’s still very low, it’s the biggest annualized gain sinceDecember 2014.

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Similarly, core consumer prices increased at a 2% rate over thepast 12 months for the first time since May 2014.

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Insurance-related figures

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The CPI for Auto insurance rose 5.5% in November, up from 4.7%in October. Tenants’ and household insurance rose 2.3%, up from2.1% in October.

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November CPI
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(Source:Insurance Information Institute)

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Related: 10 factors affecting auto and P&Cinsurers

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