Headline consumer prices were up 1.3 percent year over year in November, down from 1.7 percent in October. Declines in the energy commodities subindex (made up of gasoline and fuel oil) were responsible for much of the deceleration in the headline number since midyear. The energy commodities subindex fell 54.5 percent on a one-month annualized basis in November, marking the fifth consecutive monthly decline. The core measure, which excludes food and energy, was up 1.7 percent year over year, a decrease of one-tenth of a percent from October's measure.
