Annual inflation rate accelerates to 2.7% in November, as expected

[BumRushDaShow]

Source: CNBC

Published Wed, Dec 11 20248:31 AM EST Updated 3 Min Ago


Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.

The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annual rate was 0.1 percentage point higher than October.

Excluding food and energy costs, core CPI was at 3.3% on an annual basis and 0.3% monthly. The 12-month core reading was unchanged from a month ago.



All of the numbers were in line with the Dow Jones consensus estimates. The readings come with Federal Reserve officials mulling over what to do at their policy meeting next week, Markets strongly expect the Fed to lower its benchmark short-term borrowing rate by a quarter percentage point when the meeting wraps up Dec. 18, but then skip January as they measure the impact successive cuts have had on the economy.

Read more: https://www.cnbc.com/2024/12/11/cpi-inflation-november-2024-annual-inflation-rate-accelerates-to-2point7percent-in-november-as-expected.html

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CPI for all items rises 0.3% in November; shelter and food up https://bls.gov/news.release/cpi.nr0.htm
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8:31 AM · Dec 11, 2024

Article updated.

Previous article -

Published Wed, Dec 11 20248:31 AM EST Updated 1 Min Ago


Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.

The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday.

Excluding food and energy costs, core CPI was at 3.3% on an annual basis and 0.3% monthly. All of the numbers were in line with the Dow Jones consensus estimates.

The readings come with Federal Reserve officials mulling over what to do at their policy meeting next week, Markets strongly expect the Fed to lower its benchmark short-term borrowing rate by a quarter percentage point when the meeting wraps up Dec. 18, but then skip January as they measure the impact successive cuts have had on the economy.

Original article -

Published Wed, Dec 11 20248:31 AM EST


The consumer price index was expected to rise 0.3% in November and 2.7% from a year ago, according to the Dow Jones consensus estimate.

This is breaking news. Please check back for updates.

[bucolic_frolic]

1. Trump will make it 12.7 a year from now

Inflation Acceleration Act

[nmmi]

2. Three month averages (annualized): CPI:+3.0%, Core CPI:+3.6%, both have been rising since July

Last edited Wed Dec 11, 2024, 02:58 PM - Edit history (1)

This isn't a pretty report if one is concerned about rising costs (as opposed to what was expected, which I don't gived a FaFu about).

Some other random notes from the BLS   https://www.bls.gov/news.release/cpi.nr0.htm

Shelter: Nov:+0.3%, accounting for nearly 40% of the monthly all items increase. 12 months: +4.7%
(so still a big problem despite reading more than 2 years of giddy bubbly boo about new rents coming down)

Food: Nov: +0.4%, (12 months: +2.4%),
   Food at home: Nov: +0.5%, (12 months: +1.6%),
   Food away from home: Nov: +0.3%, (12 months: +3.6%)

Energy: Nov: +0.2% (was +0.0% in October), (12 months: minus 3.2%),
   Gasoline: Nov: +0.6%, (12 months: minus 8.1%)

Data Series:
CPI: https://data.bls.gov/timeseries/CUSR0000SA0
Core CPI: http://data.bls.gov/timeseries/CUSR0000SA0L1E

[Linda ladeewolf]

3. Just wait

Until February!