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November sees a slowdown in US consumer inflation, but pressures linger
Posted on December 18, 2023 |
In the US, consumer inflation decreased for the 2nd consecutive month in November.
The consumer price index (CPI), a crucial measure of inflation, showed a 3.1% rise from a year ago, a slight dip from the 3.2% rate in October.
The drop was influenced by lower gas prices, notably with the gasoline index decreasing by 6.0%.
Despite the overall slowdown, the inflation figure was slightly higher than expected, with CPI increasing by 0.1% from October to November.
As the Federal Reserve concludes its last policy meeting of the year, analysts anticipate it will maintain interest rates at the current level, considering the ongoing effects of previous rate hikes on the economy.