Inflation Cools in November but Remains Above Fed Target
• Inflation cooled to 3.1% in November, down from 9.1% last summer, but still above the Fed's 2% target • Falling gas prices drove the inflation decline, but some prices like shelter and cars remain stubbornly high • Core CPI rose 0.3% in November, driven by a 0.4% increase in shelter costs • Not everyone feels inflation equally due to differences in lifestyle and location • Miami had the highest metro inflation rate at 7.4%, partly due to rising home prices