(Trends Wide) — Inflation in the United States was 7.1% annually in November, down from 7.7% in October, according to the Bureau of Labor Statistics Consumer Price Index released Tuesday.
The November rate, which came in below economists’ expectations of 7.3%, was the lowest since December 2021.
On a month-on-month basis, prices rose 0.1% last month, up from 0.4% in October.
Core CPI, which excludes food and energy volatility, was 6% in November, up from 6.3% in October. On a monthly basis, the core CPI rose 0.2%.
This news is in development and will be updated.
