Inflation Dips but Remains Above Fed Target
Inflation Dips but Remains Above Fed Target |
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| The Consumer Price Index (CPI), the broadest measure of consumer prices, rose 3.1% annually in November and declined from 3.2% in October.
Why it matters: Inflation is down from the peak of 8.8% in June 2022, but still well above the Federal Reserve’s 2% target rate. Be smart: Core prices, which strips out volatile elements like food and energy, rose 4.0% on an annual basis and 0.3% from October to November. This is a metric the Fed looks at closely, and it is still high.
Bottom line: The data likely means the Fed will hold off on interest rate hikes at least until early 2024. |