According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) rose by 0.3% in November, raising the inflation rate over the last 12 months to 2.7%. This is the 2nd month in a row that inflation has been rising. It bottomed at 2.4% in September and has been inching up since then.The annual inflation in the US in this century averages between 2.2 and 2.9%, and inflation has dropped in that range since July.