U.S. consumer prices rose more than expected in November, which could further su...
WASHINGTON - U.S. consumer prices rose more than expected in November, which could further support the Federal Reserve’s intention not to cut interest rates again in the near term after reducing borrowing costs three times this year.
Economists polled by Reuters had forecast the CPI climbing 0.2% in November and rising 2.0% on a year-on-year basis. November’s firmer inflation readings followed a report last Friday showing the economy added a robust 266,000 jobs in November and the unemployment rate fell back to 3.5%, its lowest level in nearly half a century. Other data on housing, trade and manufacturing have also been relatively upbeat, and suggested the economy was growing at moderate speed rather than stalling.
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