Inflation has ticked up in November

Driven by higher costs for used cars, hotel stays, and auto insurance, inflation in the United States edged up slightly last month but remained well below its peak from two years ago.

Consumer prices rose 2.7 percent in November compared to the previous year, up from October’s annual increase of 2.6 percent. Excluding the often-volatile food and energy categories, core prices climbed 3.3 percent year-over-year, matching October’s figure.

On a monthly basis, consumer prices increased by 0.3 percent from October to November, marking the largest one-month rise since April. Core prices also rose 0.3 percent for the fourth consecutive month.

This is a developing story and will be updated as more information becomes available.