Money and business
Driven by cars and hotels.. High inflation rate in America
Rising prices for used cars, hotel rooms and auto insurance pushed the US inflation rate up slightly over the past month.
The US Department of Labor stated that the index rose by 2.7% annually in November, compared to 2.6% in October. At the same time, the core inflation rate, which excludes the most volatile commodities such as energy and food, stabilized at 3.3% without change.
The US Department of Labor stated that the index rose by 2.7% annually in November, compared to 2.6% in October. At the same time, the core inflation rate, which excludes the most volatile commodities such as energy and food, stabilized at 3.3% without change.
High prices
Data from the Ministry of Labor indicated that prices rose by 0.3% per month during the past month, which is the largest monthly increase since last April. Prices also rose after excluding the most volatile items by 0.3% per month for the fourth month in a row.
The inflation data issued by the Ministry of Labor today is the latest basic economic data issued before the US Federal Reserve (central bank) meeting next week to review interest rates.
The slight increase in the inflation rate last month is unlikely to lead bank officials to back down from their expected decision to cut key interest rates by a quarter of a percentage point.
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