Annual inflation rate accelerates to 2.7% in November, as expected
Source: CNBC
Published Wed, Dec 11 20248:31 AM EST Updated 3 Min Ago
Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.
The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annual rate was 0.1 percentage point higher than October.
Excluding food and energy costs, core CPI was at 3.3% on an annual basis and 0.3% monthly. The 12-month core reading was unchanged from a month ago.
All of the numbers were in line with the Dow Jones consensus estimates. The readings come with Federal Reserve officials mulling over what to do at their policy meeting next week, Markets strongly expect the Fed to lower its benchmark short-term borrowing rate by a quarter percentage point when the meeting wraps up Dec. 18, but then skip January as they measure the impact successive cuts have had on the economy.
Read more: https://www.cnbc.com/2024/12/11/cpi-inflation-november-2024-annual-inflation-rate-accelerates-to-2point7percent-in-november-as-expected.html
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8:31 AM · Dec 11, 2024
Article updated.
Previous article -
Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.
The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday.
Excluding food and energy costs, core CPI was at 3.3% on an annual basis and 0.3% monthly. All of the numbers were in line with the Dow Jones consensus estimates.
The readings come with Federal Reserve officials mulling over what to do at their policy meeting next week, Markets strongly expect the Fed to lower its benchmark short-term borrowing rate by a quarter percentage point when the meeting wraps up Dec. 18, but then skip January as they measure the impact successive cuts have had on the economy.
Original article -
The consumer price index was expected to rise 0.3% in November and 2.7% from a year ago, according to the Dow Jones consensus estimate.
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