November Witnessed Higher Than Expected U.S. Consumer Prices
This could further support the Federal Reserve’s intention not to cut interest rates
U.S. consumer prices rose more than expected in November, which could further support the Federal Reserve’s intention not to cut interest rates again in the near term after reducing borrowing costs three times this year.
On Dec. 11, 2019, the Labor Department said its consumer price index increased 0.3 percent last month as households paid more for gasoline. The CPI advanced 0.4 percent in October. In the 12 months through November, the CPI rose 2.1 percent after gaining 1.8 percent in October.
Economists polled by Reuters had forecast the CPI climbing 0.2 percent in November and rising 2.0 percent on a year-on-year basis.
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