The increase — the smallest since July — "could temper expectations that inflation will pick up this year."
The 0.5% increase in April reflected rising costs for petroleum products and "helps build the case" for another interest rate hike in June.
The decline in the cost of imported goods in November was the biggest since February and followed a 0.4% gain the previous month.
While the jobs market stabilizes, import prices decline for the sixth straight month.
August’s fall in import prices was led by a steep monthly decline in the price of imported fuel, which plunged 13.3%.
A five-point drop in the University of Michigan survey means lower consumer spending could last for awhile.
