United States: Inflation slows for the fifth month in a row

HipHop24  - HipHop24
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United States: Inflation slows for the fifth month in a row

Annual inflation growth slowed in the United States last November, declining for the fifth month in a row, amid sharp increases in interest rates to curb prices.

The US Bureau of Labor Statistics said, on Tuesday, that annual inflation recorded 7.1 percent, down from 7.7 percent in October.

Analysts had expected inflation growth to slow to 7.3 percent in November, which means that the Fed may take a less hawkish path in interest rates, during a meeting that begins today and continues until Wednesday.

The energy index rose 13.1 percent over the past month on an annual basis, while the food index rose 10.6 percent, which are smaller increases than those recorded in October.

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On a monthly basis, inflation increased by 0.1 percent in November, compared to the previous month.

Consumer prices in the United States recorded a peak of nearly 41 years, during last June, recording 9.1 percent.

During the current year, the Fed implemented 6 interest rate increases, the last 4 of which were by 75 basis points, while it is expected to raise interest by 50 basis points in a statement issued on Wednesday.

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Posted by HipHop24 HipHop24
News journalist about music around the world, including pop, hip-hop and rap
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