- December 13, 2022
- Posted by: Stratford Team
- Category: Economy
By Gwynn Guilford
Consumer prices rose last month at the slowest 12-month pace since December 2021, closing out a year in which inflation hit the highest level in four decades and challenged the Federal Reserve’s ability to keep the U.S. economy on track.
The Labor Department on Tuesday said its consumer-price index climbed 7.1% in November from a year ago, down sharply from 7.7% in October–building on a trend of moderating price increases since June’s 9.1% peak.
Core CPI, which excludes volatile energy and food prices, rose 6% in November from a year ago, easing from a 6.3% gain in October. September’s 6.6% increase was the biggest jump since August 1982.
Prices softened significantly on a month-to-month basis. The CPI increased 0.1% in November from the prior month, compared with 0.4% in October. Core CPI rose 0.2% in November, down from 0.3% in October and 0.6% in August and September. The CPI measures what consumers pay…
