Consumer inflation accelerates in Nov.

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Source: MarketWatch

WASHINGTON (MarketWatch) - Consumer prices rose 0.8% in November, led by higher prices for gasoline, the Labor Department reported Friday. This is the fastest pace of consumer inflation in more than two years.

But energy wasn't the entire story. Prices of apparel, drugs, and airline fares also spiked.

As a result, core inflation, which excludes food and energy prices, rose 0.3%, the biggest gain since January.

The figures raise concern that inflationary pressures are increasing, and could limit the room for the Federal Reserve to cut interest rates to counter the expected economic slowing over the next few quarters.

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