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HomeBusinessU.S. CPI fell to 7.1% in November, lower than expected By

U.S. CPI fell to 7.1% in November, lower than expected By


By Jeffrey Smith — in the US fell more than expected in November to this year’s lowest level, according to new data released Tuesday.

rose 0.1% from October and 7.1% from a year earlier, the Bureau of Economic Analysis said, as a fall in energy prices took the sting out of another sharp rise in housing costs. Excluding volatile fuel and energy components, the core CPI index rose 0.2% on the and 6.0% on the , a marked slowdown from October’s 6.3%.

Headline inflation has now fallen for five consecutive months, but remains more than three times the Federal Reserve’s target level of 2.0%. Analysts expect the year-over-year pace to slow further as the sharp increases in oil and other energy prices at the end of last year fade out of the equation.

The numbers bolstered hopes that the Federal Reserve will be able to soften its outlook on Wednesday when Chairman Jerome Powell announces an expected 50 basis point increase in the target range for Fed Funds. rose and fell as market participants moved to a lower price trajectory for the US going forward.

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