US Consumer Inflation Eases as Rental Costs Remain High
TL;DR
US consumer prices unexpectedly rose in November, driven by increases in rents and healthcare costs, while gasoline prices declined. The consumer price index (CPI) increased 0.1% last month, with a year-on-year increase of 3.1%. Core CPI, which excludes food and energy, rose 0.3% and increased 4.0% on a year-on-year basis. The slightly firmer inflation readings, along with strong job gains, suggest that the Federal Reserve is unlikely to cut interest rates early next year. Inflation remains above the Fed's 2% target, but economists expect cooler readings in the coming year.
Topics:businesseconomy#economy#federal-reserve#inflation#interest-rates#rental-costs#us-consumer-prices
- Stubbornly high rental costs lift US consumer inflation in November Reuters
- ‘Too many things unaffordable:’ Biden fires up price wars as inflation cools CNBC
- Inflation is slowly coming down and no longer outweighing Americans’ wages CNN
- U.S. CPI Inflation Trended Lower in November, Rising 3.1% From a Year Ago CoinDesk
- Inflation Holds Roughly Steady Ahead of Fed Meeting The New York Times
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