US inflation ticked up last month but price pressures remain far below their peak Boston 25 News [Video]

WASHINGTON — (AP) — Fueled by pricier used cars, hotel rooms and auto insurance, inflation in the United States moved slightly higher last month while remaining far below its peak of two years ago.

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%, the same as in the previous month.

From October to November, consumer prices climbed 0.3%, the biggest monthly increase since April. Core prices also rose 0.3% for a fourth straight month.

Wednesday’s inflation figures from the Labor Department are the final major piece of data that Federal Reserve officials will consider before they meet next week to decide on interest rates. The relatively mild increase won’t likely be enough to discourage the officials from cutting their key rate by a quarter-point, as most economists and Wall …