Inflation dips in November, as gasoline savings eclipse grocery price increases

Consumers shop in the produce section of a Walmart store in Burbank, Calif., on August 15, 2022. Produce prices have been rising recently, the latest area hit by inflation. (Robyn Beck/AFP via Getty Images)

Americans are saving money at the gas pump, only to spend it in the produce aisle.

Gasoline and grocery prices moved in opposite directions last month, as the overall inflation rate declined slightly. Consumer prices in November were up 7.1% from a year ago, compared to an annual increase of 7.7% the month before.