Prices jump more than expected Higher gasoline prices bring big jump in overall prices, larger rise in core prices than forecast.

EW YORK (CNNMoney.com) — Prices paid by consumers rose faster in November, lifted by a spike in the price of gasoline, as the government’s key inflation measure came in higher than Wall Street forecasts.

The Consumer Price Index, the key measure of inflation on the retail level, rose 0.8 percent in the month, up from the 0.3 percent rise in October. Economists surveyed by Briefing.com had forecast a 0.6 percent rise in overall prices.

It was the biggest jump in prices since September 2005, when gasoline prices surged higher in the wake of Hurricane Katrina. There was a similar impact of higher gasoline prices this time.

The report showed overall energy prices up 5.7 percent, with gasoline up 9.3 percent. In addition food prices, another recent driver of inflation, were up 0.3 percent.

http://money.cnn.com/2007/12/14/news/economy/cpi/index.htm