Economy Faces Challenges with 2.7% Inflation Rise in November
Inflation Trends Reflect Economic Challenges
Inflation rose 2.7% on an annual basis in November, according to the latest government report on the Consumer Price Index, or CPI. Last month’s CPI was forecast to come in at 2.7%, according to economists surveyed by financial data firm FactSet.
Understanding the CPI and Its Implications
The Consumer Price Index, a basket of goods and services typically bought by consumers, tracks the change in those prices over time. The Federal Reserve has been battling high inflation since 2022, when it began raising its benchmark rate to dampen demand from consumers and businesses. That effort helped lower inflation from a peak of 9.1% in June 2022, yet the last leg towards achieving a 2% annual inflation rate remains elusive.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.