The U.S. inflation rate stood last November at 7.1 percent year-on-year, down six-tenths of a percent from October’s figure, making a string of five months of moderation and recording the lowest price increase in all of 2022, according to data released Tuesday by the U.S. Department of Labor’s Bureau of Labor Statistics.
The rise in the cost of energy experienced in the eleventh month of the year a moderation of 4.5 points, to stand at 13.1 percent. This is the smallest increase in energy prices since the country’s inflationary spiral began in March 2021.
In turn, food prices rose by 12 percent year-on-year, four tenths less than the increase in October and the lowest figure since before the summer.
Thus, core inflation in the United States, which is the result of excluding food and energy prices from the calculation, stood at 6 percent in November, three tenths less than the previous month.
The country’s high inflation data have prompted the US Federal Reserve to raise interest rates at a particularly rapid pace. During 2022, the price of money has risen by almost four percentage points.
At the last monetary policy meeting in November, central bankers discussed whether it would be appropriate to slow the pace of interest rate hikes from November. In its last four policy meetings, the Fed has raised the price of money by 75 basis points in a row.
