US consumer prices rose just 0.1% in November. As reported by Commerzbank economists, easing inflationary pressure is likely to lead the Fed to slow the pace of interest rate hikes.
US inflation continued its downward trend in November
“US consumer prices rose 0.1% in November from October. This was below expectations. Excluding energy and food, the increase was 0.2%, also less than expected. The year-on-year rate for the CPI covering all goods, which had stood at 9.1% in June, fell to 7.1%, and that for the index excluding energy and food from 6.3% to 6.0%.”
“The rise of 50 basis pointswhich is generally expected for tomorrow’s FOMC meeting, can be considered almost certain after today’s data.”
“We continue to assume that the Fed will reduce the size of rate hikes again in early 2023, moving just 25 basis points in February and March.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
