US Inflation Continues to Cool in November

By Fan-Yu Kuo
NAHB – Eye on Housing
December 13, 2022
Category: Finance & Economics
Region: United States

Consumer prices in November saw the smallest year-over-year gain since December 2021. While still elevated, inflation experienced the second month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and was more than offsetting decreases in energy indexes. Shelter inflation will primarily be cooled in the future via additional housing supply. As inflation appears to have peaked and continues to slow, this may ease some of pressure on the Fed to maintain a more aggressive monetary policy. The Bureau of Labor Statistics reported that the Consumer Price Index (CPI) rose by 0.1% in November on a seasonally adjusted basis, following an increase of 0.4% in October. …Excluding the volatile food and energy components, the “core” CPI increased by 0.2% in November, following an increase of 0.3% in October. This is the smallest monthly increase since August 2021. 

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