Reported 1 day ago
The Federal Reserve's preferred inflation measure indicated a slight increase of only 0.1% from October to November, suggesting a cooling in price pressures after months of sharp increases. The report revealed that while year-over-year inflation rose to 2.4%, core prices remained steady at 2.8%, giving the Fed some confidence in cutting interest rates despite persistent inflation concerns. Consumer spending also rose by 0.4%, bolstering economic growth.
Source: YAHOO