US consumers can breathe a sigh of relief because prices are no longer rising as rapidly.
(Photo: Bloomberg)
new York In the US, inflation appears to have peaked. This feeds speculation on smaller rate hikes by the US Federal Reserve. For markets, weaker-than-expected fresh November inflation data was good news.
A day before the last US interest rate meeting this year, the Labor Department reported an inflation rate of 7.1 percent, a month earlier inflation had been 7.7 percent. Economists had expected a slightly higher figure of 7.3 percent.
This means that inflation in the USA has fallen for the fifth time in a row. A large majority of investors now expect the Fed to hike rates by just 0.5 percentage point on Wednesday, down from the 0.75 percentage point it has hiked the last four times.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue