Fri, Jan 26th, 2024 - 3:27pm
December 13, 2022 - 7:59am | By Kyle Cornell
(Washington, DC) -- There are signs inflation is cooling off.
That's because the latest inflation report beat expectations as the consumer price index for November rose by just one-tenth of a percent.
Analysts were looking for a three-tenths percent increase. On a year over year basis, the CPI went up by seven-point-one percent. That's also slightly better than expected.
The report was released as the Federal Reserve's policymaking arm opens its last meeting of the year Tuesday.
It's expected to raise interest rates a half-percent to slow inflation when it adjourns Wednesday.
