Prices Rise Again Slightly in November: Will Grinchy Inflation Steal the Gift of Lower Interest Rates?
The report showed that prices rose by 2.7% annually in November. Housing accounted for nearly 40% of the monthly increase, according to theBLS report. Although unemployment inched up to 4.2%, the data aligned with expectations and is still considered low. But rising inflation and a strong job market doesn’t bode well for potential interest rate cuts. The Federal Reserve began raising interest rates in 2022 to curb soaring inflation. More on money