Price increases in the US eased in recent months, as costs for items including hotels, milk and some kinds of clothing fell.The latest figures from the Labor Department showed prices rose 2.7% over the 12 months to November. That pace was down from 3% in September and lower than many analysts had expected, potentially bolstering the case for the US central bank to continue cutting interest rates. The signs of cooling came as frustration over years of rising prices has raised pressure on US President Donald Trump to deliver on his promises of relief. The consumer price index (CPI) report had been delayed by the US government shutdown, which also prevented collection of some data. Art Hogan, chief market strategist at B. Riley Wealth, said the report reflected discounts offered by retailers in November, as the holiday shopping season swung into gear. But he noted that without the October data it was difficult to draw too many definitive conclusions about wider trends. “All told this is a positive report, that comes with an asterisk,” he said. “Subsequent CPI’s will likely smooth out the statistical errors that might have been present in today’s report.”
Source link
Price increases in the US ease in November
