The Consumer Price Index for All Urban Consumers was flat in November.  The index climbed for most of the year, before decreasing slightly in October.  A decrease in the energy index, driven by lower gasoline costs, countered rises in the other indexes (the food index and the all items less food and energy index). climbing 3.5% (seasonally adjusted) over the last year, the CPI decreased 0.1%.  The key factor was energy costs. From the Bureau of Labor Statistics release:

The energy index declined for the second month in a row and offset increases in the indexes for food and all items less food and energy. As in October, the gasoline index fell sharply and the index for household energy declined as well. The food index rose slightly in November, though the index for food at home declined as four of the six major grocery store food group indexes fell.

The index for all items less food and energy increased 0.2 percent in November following increases of 0.1 percent in each of the prior two months. The indexes for shelter, medical care, apparel, and personal care all rose. These increases more than offset declines in the indexes for new vehicles and used cars and trucks.

The all items index has risen 3.4 percent over the last 12 months. This is a slightly smaller increase than last month’s 3.5 percent figure, as the 12-month change in the energy index declined from 14.2 percent to 12.4 percent. The 12-month change in the food index also declined slightly, from 4.7 percent to 4.6 percent. In contrast, the 12-month change in the index for all items less food and energy continued to rise, reaching 2.2 percent in November.

Here's a look at the CPI for All Urban Consumers over the last year:

Read the release here.