Stocks Rise as Inflation Eases and CPI Report Shows Promising Results

Consumer prices in the US rose moderately in November, with inflation increasing by 3.1 percent compared to a year earlier. The rise in prices remained moderate, indicating a cooling of inflation from its peak. The Federal Reserve is expected to leave interest rates unchanged at its final meeting of the year, as inflation data aligns with economists' projections. Gas prices have contributed to the decline in overall inflation, with prices falling by 6 percent in November and 8.9 percent over the past year. While core inflation, excluding food and fuel, climbed slightly on a monthly basis, it held steady at 4 percent on an annual basis. Economists anticipate inflation to continue moderating into 2024.