Inflation in the US economy eased as Consumer Price Index (CPI) grew by 7.1% in November

Posted on December 19, 2022   |  

Inflation in the United States is decelerating as the CPI grew by 7.1% lesser than expected in November. 

In October 2022, the CPI stood at 7.7% and in a month-to-month comparison, CPI grew by 0.1% in November and 0.4% in October.

Significant components of high inflation, natural gas, gasoline, and electricity prices went down last month as international oil prices showed decreasing trends. 

Despite a drop in gasoline and natural gas prices, food prices grew by 0.5% in November and in October 2022, prices of food grew by 0.6%.