US Consumer Inflation Moderates in November as Energy Prices Drop

US consumer inflation eased slightly in November, with the consumer price index rising just 0.1% from October to November. Cheaper gas prices helped offset increases in areas such as services, used cars, and auto insurance. Core prices, which exclude food and energy costs, rose 0.3% from October to November. The Federal Reserve is expected to leave its benchmark interest rate unchanged, as inflation remains above its 2% target but is cooling faster than expected. The decline in gas prices has helped keep inflation in check, while grocery store inflation remains persistent. The Fed may keep its benchmark rate at a peak for several more months, and while there is speculation about interest rate cuts next year, Fed Chair Jerome Powell has dismissed the idea for now.