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.
