US inflation ticked up last month as some price pressures remain persistent

AP Economics Writer

WASHINGTON (AP) — Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Consumer prices rose 2.7% in November from a year earlier, up from a yearly figure of 2.6% in October. Excluding volatile food and energy costs, so-called core prices increased 3.3%. Measured month to month, prices climbed 0.3% from October to November, the biggest such increase since April. Wednesday’s inflation figures are the final major piece of data Federal Reserve officials will consider before they meet next week to decide on interest rates. The November increase won’t likely be enough to discourage the officials from cutting their key rate by a quarter-point.