High inflation in the US eased more than expected in November. Compared to the same month last year, consumer prices rose 7.1 percent, the Department of Labor announced in Washington on Tuesday.
Analysts had expected an inflation rate of 7.3 percent on average, compared to 7.7 percent in the previous month. It is the fifth consecutive drop in inflation. Core inflation – excluding volatile energy and food prices – fell from 6.3 percent to 6.0 percent. Here, too, the decline was stronger than expected.
The US dollar fell across the board following the numbers. US government bond yields also came under pressure. Because the slowdown in inflation is likely to strengthen the US Federal Reserve’s intention to raise key interest rates less than it has done recently. The next interest rate decision will follow on Wednesday. (aeg/sda/awp/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
