US inflation, nearly 7% in November, the highest figure since June 1982, but in line with forecasts
US inflation accelerated to 6.8% in November, the highest figure since June 1982 and in line with forecasts. This is the ninth consecutive month that it remains above the Fed’s 2% target due to the global commodity rally, rising demand, wage pressures and supply chain disruptions.
At a cyclical level, inflation in November it increased to 0.8%, slowing from 0.9% in October but above analysts’ estimates (+ 0.7%). Core inflation (all goods minus food and energy) increased by 4.9% in November compared to the previous year, accelerating from 4.6% in October and in line with market expectations. This is the largest annual increase in consumer prices since June 1991. Core inflation rose by 0.5% on a monthly basis in line with expectations and slowing compared to the previous month.
US inflation, Biden: “The rise in prices is slowing down, although not as fast as we would like”
The American president Joe Biden commented on the inflation data: “The rise in prices and costs is slowing down, although not as fast as we would like.” “Economic growth is stronger here than in virtually any other nation”, Biden pointed out, adding that however “we need to lower prices and costs before consumers feel confident in this recovery”, he concluded. Biden.
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