Because of the high inflation, Americans used Black Friday and Cyber Week deals particularly often.
(Photo: Bloomberg)
Frankfurt US inflation continued to rise in November. Consumer prices rose by 6.8 percent compared to the same month last year, as the US Department of Labor announced on Friday. Economists had expected an increase of 6.7 percent over the previous year. In October consumer prices in the world’s largest economy rose by 6.2 percent.
For a long time, the US Federal Reserve had spoken of a temporary special effect from the pandemic. However, it now assumes that the high inflation will last longer than initially expected. Fed Chairman Jerome Powell announced that he would not describe the rise in inflation as temporary in the future, as the wording was ambiguous.
Powell also signaled that the Fed could shut down its asset purchases faster than previously planned to counter inflation threats. In November, the US Federal Reserve announced that it would reduce purchases by $ 15 billion a month. In October this was still $ 120 billion.
Many experts expect the Fed to decide at its next meeting on December 15 to accelerate this process. Several Fed officials and Fed Chairman Powell have indicated that they could support such a move.
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