U.S. Inflation Rises to 2.7% in November, Matching Expectations

The latest CPI data shows inflation remains above the Federal Reserve's 2% target as markets anticipate another rate cut next week.

The Consumer Price Index (CPI) increased by 2.7% year-over-year in November, up from 2.6% in October, aligning with economists' forecasts.
Core inflation, excluding volatile food and energy prices, held steady at 3.3% annually for the fourth consecutive month.
Rising costs in housing and food were key drivers of inflation, with shelter accounting for 40% of the monthly increase.
Markets are pricing in a near-certain 25 basis point interest rate cut at the Federal Reserve's upcoming December meeting.
Despite progress in reducing inflation from its 2022 peak, concerns about its persistence and potential impacts from President-elect Trump's policies remain.