US Inflation in Line With Forecasts Solidifies Bets on Fed Cut
- November core consumer price index rises 0.3% for fourth month
- Key measures of shelter inflation climb least since 2021
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US consumer prices rose at a firm pace in November that was in line with expectations, solidifying expectations for the Federal Reserve to cut interest rates next week.
The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a fourth straight month, Bureau of Labor Statistics figures showed Wednesday. From a year ago, it rose 3.3%.