US inflation ticks up Fresh inflation data out on Wednesday showed consumer prices rose as forecast in November, keeping the Federal Reserve on track to lower interest rates again in December.
The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.7% over the prior year in November, a slight uptick from October's 2.6% annual gain in prices. The yearly increase matched economist expectations. On a "core" basis, which strips out the more volatile costs of food and gas, prices in November climbed 0.3% over the prior month, matching October, and posted an annual rate of 3.3% for the fourth consecutive month.