US Inflation Remains Steady In November, But Service Prices Soar In Key Sectors
  • 4 months ago
US inflation was mostly unchanged in November, held down by sinking gas prices. However, underlying price pressures remained high for services like restaurant meals, car repair, and apartment rents. While some goods prices are declining, services prices are still rising sharply for items like rent, restaurant meals, and vehicle insurance. However, rental price growth for new apartments is showing signs of cooling. The Federal Reserve is widely expected to leave interest rates unchanged after its meeting concluding on December 14th, as inflation is cooling faster than expected. Americans' inflation expectations and outlook have improved recently, with expected yearly inflation of 3.4%, near pre-pandemic levels.
Recommended