Inflation cooled again in November to the slowest pace in a year
Inflation as measured by the Consumer Price Index soared 7.1% year-over-year in November, lower than the year-over-year increase of 7.7% in. That's according to new data out from the Bureau of Labor Statistics. November's increase comes in below the 7.3% increase economists surveyed by Bloomberg forecasted, and is the lowest year-over-year rate since December 2021.
Looking at just core CPI, which strips out volatile food and energy prices, this measure rose 6.0% year-over-year. That's just shy of the 6.1% forecasted. Core CPI increased 6.3% in October from the same time a year ago. This week's CPI report comes in just ahead of the Fed's last meeting of 2022 where the central bank could potentially raise interest rates at a slower pace than the outsize hikes from earlier this year per aLooking forward, inflation may be cooler next year. US Treasury Secretary Janet Yellen recently said on"60 Minutes" that
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