Inflation, as measured by producer wholesale prices, slowed to 7.4% for the year ending in November, according to a report Friday from the Bureau of Labor Statistics.
That year-over-year inflation rate was down from 8.1% the month before, but it was a bit higher than what forecasters expected.Looking at the past several months, it appears as though inflation peaked and is on its way down, which is good news for President Joe Biden, whose approval has been undercut by soaring costs for households. Annual wholesale inflation reached its zenith in March, clocking in at 11.7%, but it has now been in retreat for the past few months.
The Federal Reserve has been raising interest rates to tame inflation, but the trade-off is that rising interest rates slow demand and can result in a recession. Fed Chairman Jerome Powell has made it clear that the Fed won’t let up with tightening until inflation starts returning to its preferred 2% level, although recent comments indicate that the pace of the tightening will begin to slow.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China's November CPI inflation to drop to 1.5% y/y from 2.1% – TDSEconomists at TD Securities said they expect the Consumer Price Index in China to decline to 1.5% on a yearly basis in November from 1.5%. November PP
Lire la suite »
Stock futures are flat as traders look ahead to November wholesale inflation reportInvestors are looking ahead to Friday's producer price index report, a measure of inflation.
Lire la suite »
India inflation likely softened to nine-month low in November: Reuters pollIndia consumer price inflation likely cooled to a nine-month low of 6.40% in November mainly due to a moderation in food prices, according to a Reuters poll of economists.
Lire la suite »
BoE Survey: UK public inflation expectations for coming year ease to 4.8% in NovemberThe quarterly survey conducted by the Bank of England (BoE)/ Ipsos showed on Friday that the public's expectations in Britain for inflation for the co
Lire la suite »
Stock futures rise as traders look ahead to November wholesale inflation reportHere’s a look at today’s pre-market movers with FrankCNBC: - $NFLX rises after Wells Fargo upgrade - Casino stocks $WYNN $LVS rise as Deutsche gets bullish on betting - $DOCU surges after Q3 results - $LULU slides as Q4 guidance disappoints
Lire la suite »
Wholesale inflation in U.S. further slowed in November to 7.4%Wholesale prices in the United States rose 7.4% in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool.
Lire la suite »