Not much progress was made in cooling inflation in November, but that is unlikely to stop the Federal Reserve from cutting rates next week.
The consumer price index rose 0.3% month-over-month in November after rising just 0.2% in each of the previous four months, data from the Bureau of Labor Statistics showed on Wednesday. That was slightly firmer than consensus expectations on FactSet, but the annual growth rate of 2.7% in November was in line with estimates.
With the latest inflation numbers broadly in line with expectations, analysts and economists are betting that overall progress in cooling price growth will be enough to trigger another quarter-percentage-point rate cut, especially as interest rates remain restrictive and working conditions are poor. cooler in recent months.
