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Gas Prices Spur Consumer Inflation

WASHINGTON -- Consumer inflation surged by the largest amount in more than two years in November, led by gasoline prices. The cost of clothing, airline tickets and prescription drugs also jumped, according to the Associated Press.

The Labor Department said its closely watched Consumer Price Index rose 0.8 percent last month, the biggest one-month increase since a 1.2 percent surge in September 2005, when the country was hit by rising energy costs in the wake of Hurricane Katrina.

Posted by Peter C. T. Elsworth  at 9:45 AM to Gas prices | Permalink

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