The Russell 2000 (NYSE: IWM) is posting losses on news that U.S. consumer prices rose more than expected in November.
 
At 10:47 a.m. ET, the small-cap index had dropped 4.08 points, or 0.53%, to 765.38. The Dow Jones Industrial Average (INDU) was off 50.56 points, or 0.37%, to 13,467.40.

High energy costs led to a jump in inflation in November, according to a report by the U.S. Labor Department before the start of trading.

The consumer price index increased 0.8% in November, above economists’ projected rise of 0.6%. That’s the biggest increase in over two years. Prices increased across the board, with energy leading the way with a 5.7% climb.

Consumer prices added 0.3% in October. Prices are up 4.3% from November 2006.

The core consumer price index, which factors out the cost of food and energy, gained 0.3%. The forecast called for an increase of 0.2%.

Core prices are up 2.3% from November 2006, while the U.S. Federal Reserve has said that it prefers core inflation to stay in the 1% to 2% range.

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