U.S. Consumer Prices Rose As Expected

The Labor Department released a closely watched report on Wednesday showing consumer prices in the U.S. rose in line with economist estimates in the month of November.

The report said the consumer price index climbed by 0.3 percent in November after rising by 0.2 percent for four straight months. The increase matched expectations.

The annual rate of growth by consumer prices ticked up to 2.7 percent in November from 2.6 percent in October, which was also in line with estimates.

Excluding food and energy prices, core consumer prices still rose by 0.3 percent in November, matching the increases seen in each of the three previous months as well as expectations.

The Labor Department said core consumer prices in November jumped by 3.3 percent compared to the same month a year ago, unchanged from October and in line with estimates.

At 10:30 am ET, the Energy Information Administration is due to release its report on oil inventories in the week ended December 6th. Crude oil inventories are expected to decrease by 1.3 million barrels after tumbling by 5.1 million barrels in the previous week.

The Treasury Department is scheduled to announce the results of this month’s auction of $39 billion worth of ten-year notes at 1 pm ET.