New inflation data out Wednesday showed consumer prices rose as forecast in November, keeping the Federal Reserve on track to lower interest rates again in December. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.7% over the prior year in November, a slight uptick from October's 2.6% annual gain in prices. The yearly increase matched economist expectations. The index rose 0.3% over the previous month, ahead of the 0.2% increase seen in October and also on par with economists' estimates. This was the largest monthly gain since April after rising 0.2% the previous four months. On a "core" basis, which strips out the more volatile costs of food and gas, prices in November climbed 0.3% over the prior month, matching October, and 3.3% over last year for the fourth consecutive month. The sticky nature of the print "is a little disconcerting," Paul Ashworth, chief North America economist at Capital Economics, wrote on Wednesday. "But we don’t expect it to persuade the Fed to skip another 25bp rate cut at next week’s FOMC meeting."