Powell’s ‘Most Important’ US Inflation Indicator Cools Again
- Services prices less energy services, rents rose 0.1%
- Fed chair says category is key to understand core inflation
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A slice of the consumer price index that Federal Reserve Chair Jerome Powell flagged recently as potentially “most important” for determining the outlook moderated again in November.
Services prices excluding energy services and rents rose just 0.1% last month, after logging increases of 0.4% in October and 0.8% in September, according to Bloomberg calculations based on data published Tuesday by the Labor Department.