US inflation ticks up 2.7% in November 'clearing the way' for third Fed rate cut

Core CPI rises 3.3%

Inflation in the US increased 2.7% in November, in line with economists’ expectations, laying the groundwork for a third rate cut from the Federal Reserve next week (18 December).

Data released on Wednesday (11 December) from the Bureau of Labor Statistics was 0.1 percentage point higher than October's Consumer Price index of 2.6%.  Similarly, CPI increased 0.3% on a seasonally adjusted basis in November, having risen 0.2% in each of the previous four months.  Significant drivers of the increase in prices include the index for shelter, which rose 0.3% in November, accounting for almost 40% of the monthly total items increase.  US economy expands by 2.8% in Q3 Cars and trucks, household furnishings and operations, medical care, new vehicles and recreation ...