Summary:
US inflation rose 3.1% YoY in November, as expected. However, core inflation remains high at 4%, surpassing the 2% target.
US CPI YoY Dec
11/1/2023 (Thu)
Previous: 3.1% Forecast: 3.3%
inflation in the US was up 3.1% from a year ago in Nov, in line with expectations. But core inflation rose 4% year-over-year, which is still above the 2% target.
Thanks to a steep decline in energy prices, that was a bit slower than the inflation reflected in Oct’s prices, as last month the CPI was up 3.2% over the previous year. And core prices were the same at 4%.
Consumer prices has cooled sharply since mid-2023. Policymakers suggested that the central bank is shifting toward the next phase in its fight against rapid inflation in its Dec minutes.
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