Metro area prices climbing at fastest pace in 2 years
Gas prices in the New York metropolitan area that includes Long Island rose 7.5 percent last month from the same period a year ago. Pump prices have fallen consistently for more than a year. Credit: AP / Wilfredo Lee
Consumer prices in the metropolitan area last month rose at the fastest annual rate in more than two years, on higher costs for residential rent.
The federal Bureau of Labor Statistics reported Thursday its consumer price index for the 31-county region that includes Long Island rose 1.6 percent in November compared with November 2015.
It was the largest year-over-year increase in the index since July 2014.
Residential rents were up 2.7 percent, year over year.
The cost of health care jumped 4.9 percent last month compared with a year ago.
In a change from the recent past, gasoline prices climbed 7.5 percent, year over year. Pump prices have fallen consistently for more than a year.
These increases were partially offset by price declines for some categories of food and energy.
The cost of groceries fell 2.6 percent in November compared with a year earlier.
Electricity prices were down 1.3 percent, and clothing prices were off 2 percent, year over year, respectively.
Natural gas prices climbed 2.8 percent compared with November 2015.
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