Food prices increased 0.4% after rising 0.2% in October. Grocery store food prices surged 0.5%
WASHINGTON – US consumer prices increased in November by the most in seven months, but the Federal Reserve was still expected to deliver a third consecutive interest rate cut next week to support a labour market that has been cooling.
"Some Fed officials will likely take solace in the improvement in services and housing inflation," said Scott Anderson, chief US economist at BMO Capital Markets. "With that said, the Fed will need to see more improvement on the inflation front in the months ahead, if its plan for a steady pace of additional rate cuts next year is to be fulfilled."
Beef also cost more as did nonalcoholic beverages. But prices of cereals and bakery products fell 1.1%, the most since the government started tracking the series in 1989. Gasoline prices rebounded 0.6% while the cost of piped gas surged 1.0%. "Residential rental prices as captured in CPI might finally be displaying the slowdown long flagged by real-time rent prices," said Kathy Bostjancic, chief economist at Nationwide. "This is significant."
In the 12 months through November, the so-called core CPI gained 3.3%, matching the advance in October. Over the past three months, the core CPI averaged a 3.7% annualized rate.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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