Data released by U.S. Department of Labor on Wednesday showed that consumer prices in the United States were flat in November due to an decrease in oil price.

The Consumer Price Index (CPI), a measurement of inflation, remained unchanged last month, after its reading spiked 0.3 percent in October.

Over the last 12 months, the CPI rose 2.2 percent, slowing down from October's 2.5 percent increase, according to the department.

The moderated price level was mainly due to the decline of energy prices, according to the department.

The price of all types of gasoline dropped 4.2 percent in November, after a 3 percent increase in October. Fuel oil also decreased 2.9 percent in November after a 3.7 percent increase in the previous month.

According to the department, the so-called core CPI, which excludes energy and food costs, edged up 0.2 percent in November compared to the previous month. Over the year, the core CPI increased 2.2 percent, said the department.

The U.S. Federal Reserve uses the core personal consumption expenditures (PCE) price index as its preferred inflation gauge, which is a separate inflation gauge compiled by the Department of Commerce.

On Sept. 26, the Fed raised the target range for the federal funds rate to 2-2.25 percent. It is largely expected to raise its interest rate once more before year-end. Enditem