Home » Economy » November inflation report likely to show prices moderated but remain painfully high
November inflation report likely to show prices moderated but remain painfully high
White House claims Americans are feeling ‘a break in inflation,’ Edward Lawrence reports
FOX Business Edward Lawrence reports from the White House, where he pressed the Biden administration on their ‘hopeful’ economic message.
The final inflation report of the year is expected to show that while high consumer prices are slowly beginning to moderate, the path to a normal inflation level could be long and arduous.
The Labor Department is set to release the highly anticipated consumer price index (CPI) report Tuesday morning, providing a fresh look at just how hot inflation ran in November.
Economists expect the gauge, which measures a basket of goods, including gasoline, health care, groceries and rent, to show that prices rose 0.2% from the previous month – down from the 0.4% reading in October. On an annual basis, inflation is projected to have climbed by 7.3%.
The report is likely to show underlying momentum in inflation as home and rent prices march higher. Core prices, which exclude the more volatile measurements of food and energy, are expected to climb 0.4% from the previous month (up from 0.3% in October) and 6.1% from the same time last year.
AMERICANS' INFLATION EXPECTATIONS EASED IN NOVEMBER TO LOWEST SINCE 2021, NY FED SURVEY SHOWS