Consumer prices rise 0.3 percent to 12-month high

Dec. 11 (UPI) -- Consumer prices in the United States climbed during the month of November more than experts projected, the U.S. Labor Department said Wednesday in its monthly report.

The analysis said the Consumer Price Index rose by 0.3 percent -- up from the 0.2 percent growth Wall Street had forecast.

Key factors in the growth were gains in the healthcare, used vehicle and hotel industries, the figures showed. The index shows month-to-month changes in the cost of goods and services.

The CPI has climbed over the past 12 months by 2.1 percent, which is the highest level since November 2018. Its gain in October was 0.4 percent.

The data maintained a slow and steady rise in consumer prices as the economy remains locked in a trade conflict with China.

"Increases in the shelter and energy indexes were major factors in the seasonally adjusted monthly increase of the all items index," Wednesday's report said. "Increases in the indexes for medical care, for recreation, and for food also contributed to the overall increase."

Experts say the report could discourage the Federal Reserve from making another interest rate cut on Wednesday.