Posted 12/12/2023, 2:12:26 PM
US Inflation Eases in November but Remains High Enough to Keep Fed on Course for Rate Hikes
- US consumer inflation eased slightly in November as gas prices fell, though some costs kept rising
- Inflation ticked down to 3.1% year-over-year in November from 3.2% in October
- Core inflation, excluding food and energy prices, rose 0.3% month-over-month and 4% year-over-year
- The data likely keeps the Fed on track to leave interest rates unchanged at its meeting this week
- Fed Chair Powell has cautioned against speculating on possible rate cuts despite inflation cooling faster than expected