The Consumer Price Index (CPI) rose 0.4% in November, supported by a rise in prices at the gas pump. The jump in energy prices alone contributed three quarters of the increase. A recent drop in oil inventories and additional spike in oil prices suggest that higher energy prices will persist into December. This could put damper on holiday spending in low-income households. High-income households continue to ride the tide of rising stock and real estate values, most notably in the most populated cities. The CPI rose 2.2% from a year ago in November, up slightly from the 2% pace of October, but well off of the peak of 2.7% in February.