US inflation cools further in November. CPI falls to 3.1%.

author: Mustafa Mullah

Mustafa has been writing about blockchain and cryptocurrencies for several years. He has previous trading experience and has been working in the fintech industry since 2017.

December 12, 2023 19:46

The Bureau of Labor Statistics reported that the non-seasonally adjusted consumer price index (CPI) for November was 3.1%, below expectations of 3.10% and the lowest since June 2023. This indicates that inflation is continuing to fall. It provides some relief to consumers struggling with rising costs. However, core CPI, which excludes highly volatile food and energy prices, rose 0.3% in November, exceeding the expected 0.30% and hitting the highest level since September 2023. This means that even though headline inflation is showing signs of cooling, underlying inflationary pressures remain. .