Inflation slows to a 3.1% annual rate in November
The numbers are out, and the latest Consumer Price Index shows a monthly increase in November at 0.1 percent.
Year-over-year, the index is up 3.1 percent, which aligns with analyst expectations.
The Food Index increased 0.2 percent in November, while the Energy Index fell 2.3 percent month-over-month.
The markets are liking the numbers so far and expect the Fed to keep interest rates steady at tomorrow’s meeting. The big story will be after that meeting and Chairman Jerome Powell’s message about where rates will go in 2024.