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Inflation Rises, in Line with Expectations

The core CPI increased 0.3% for a fourth straight month, solidifying bets that the Fed will lower interest rates next week.

By Augusta Saraiva | December 11, 2024 at 06:19 PM
A shopper in the toy aisle of a Target store in Chicago. Photographer: Christopher Dilts/Bloomberg.

U.S. consumer prices rose at a firm pace in November that was in line with expectations, solidifying expectations for the Federal Reserve to cut interest rates next week. The so-called core consumer price index (CPI)—which excludes food and energy costs—increased 0.3 percent for a fourth straight month, Bureau of Labor Statistics (BLS) figures showed Wednesday. From a year ago, it rose 3.3 percent.

Economists see the core gauge as a better indicator of the underlying inflation trend than the overall CPI, which includes often-volatile food and energy costs. The headline measure rose 0.3 percent from the prior month and 2.7 percent from a year before.

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