- Annual CPI goes from 7.7% to 7.1%, the lowest rate since December 2021.
- In November, the rise in the index was 0.1%.
- The dollar collapses after the data.
The Consumer’s price index (CPI) rose 0.1% in November, less than the 0.3% expected and less than the 0.4% in October. The annual rate went from 7.7% in October to 7.1% in November, below the expected 7.3%. It is the lowest rate since December 2021.
The underlying CPI it also showed below-expected figures by rising 0.2%, below the 0.3% expected. The annual rate fell from 6.3% to 6.0%, while the market consensus was 6.1%.
The Federal Reserve will announce its monetary policy decision on Wednesday. A rise of 50 basis points in the interest rate is expected. The recently released inflation data is likely to be welcomed by Fed officials as it shows inflation continuing to decline, although it is still well above target.
The dollar it collapsed on all fronts after the inflation data. The DXY loses almost 1% and trades at 104.00, the lowest level since June.
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.
