November Inflation ReportPrice Gains Slow More Than Expected
12/13/22
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from The New York Times,
12/13/22:
Markets shoot higher as a report showed inflation eased last month, the last major economic news ahead of Federal Reserve’s meeting on Wednesday.
- Price Increases Cooled Notably in November as Inflation Began to Ease
- Stocks soar as investors welcome signs of cooling inflation.
- Growth in food prices slowed, but grocery bills remain historically high.
- Rents continued to rise rapidly in November, a sign that inflation remains stubborn in key categories.
- The slowdown in inflation was driven by food, energy and used vehicles.
- Cooling inflation is a welcome sign for President Biden.
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