Annual CPI in US grew at slowest pace-report
2022.12.13 10:12
Annual CPI in US grew at slowest pace-report
Budrigannews.com – In November, a key indicator of consumer prices in the United States recorded the smallest monthly increase in more than a year. This indicates that the worst of inflation has likely passed and supports the expectation that the pace at which the Federal Reserve raises interest rates will slow.
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According to a report released by the Labor Department on Tuesday, the consumer price index increased in November in comparison to the previous year, excluding food and energy. Financial experts see the check — referred to as the center CPI — as a preferable mark of hidden expansion over the title measure.
Due to lower energy costs compensating for rising food costs, the overall CPI increased from the previous month and increased from a year earlier.
In a Bloomberg survey of economists, the median estimates predicted an increase of 0.3 percent in both the core and overall measures.
