Frankfurt Surprisingly sharp decline in US inflation fuels Wall Street. The Dow Jones gained 0.3 percent on Tuesday to 34,108 points. The tech-heavy Nasdaq was up 1 percent to 11,256 and the broader S&P 500 was up 0.7 percent to 4,019.
US goods and services inflation fell to 7.1 percent in November from 7.7 percent in October. Experts had expected 7.3 percent.
It’s the fifth straight decline, raising hopes that the US is past the peak of the inflation wave. That should in turn take the pressure off the US Federal Reserve to raise interest rates significantly.
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