United States: Inflation drops to lowest level since December 2021 in November
Inflation came in at 7.1% in November, down from Octobers 7.7% and undershooting market expectations. November’s figure marked the lowest inflation rate since December 2021. Looking at the details of the release, lower price pressures for transport and food more than offset higher price pressures for housing.
The trend pointed up slightly, with annual average inflation coming in at 8.1% in November (October: 8.0%). Meanwhile, core inflation fell to 6.0% in November, from Octobers 6.3%.
Finally, consumer prices increased 0.10% from the previous month in November, coming in below the 0.44% rise seen in October. November’s result marked the weakest reading since July.