WASHINGTON, Dec. 15 (UPI) -- Consumer prices climbed 0.1 percent in November, lowering the annual rate of inflation to 1.1 percent, the U.S. Bureau of Labor Statistics reported.
Core consumer prices that exclude the more volatile categories of food and energy were up 0.1 percent after three months of no change. Food prices for November rose 0.2 percent over October and are up 1.5 percent on an annual basis. Energy prices rose 0.2 percent from October and 1.7 percent over 12 months.
The annual rate of inflation remains far below the U.S. Federal Reserve's target rate of 2 percent.
The Fed on Tuesday announced it would continue with a $600 billion bond-purchasing program that is expected to add liquidity to financial markets and provide room for prices to grow.
One month into the program, prices are still languishing, as they did through most of the recession.
