The Consumer Price Index increased by 0.4% in November, in line with expectations, to an index value of 216.330 (1982- 84=100), after increasing by 0.4% and 0.3% in September and October respectively. Over the year the CPI has increased by 1.8% before seasonal adjustment, the first positive 12-month change since February 2009. The food index rose by 0.1% in November, the same as in October, bringing down the food index over the year by 0.7%. The energy index increased by 4.1% and is up by 7.4% over the year. Excluding food and energy prices, the Core CPI remained unchanged after increasing by 0.2% in October, and has advanced by 1.7% since November 2008.
Housing Starts in November increased by 8.9% to an annual pace of 574,000, less than the expected 575,000 pace, from the revised 527,000 in October (originally reported at 529,000). Over the year the figure has declined by 12.4% from the November 2008 rate of 655,000. Building Permits increased by 6.0%, over the month to 584,000, less than the expected 598,000 level, following 551,000 permits annualized in October (originally reported at 552,000). Over the year, Building Permits fell by 7.3% from the 630,000 pace in November 2008.
Upcoming Releases
Crude Inventories (12/16 at 10:30 AM EST)
FOMC Policy Statement (12/16 at 2:15 PM EST)
Initial Claims (12/17 at 8:30 AM EST)
Leading Indicators (12/17 at 10:00 AM EST)
