US Core CPI Eases in November to Slowest Pace Since 2021

Inflation Data - The year-over-year Consumer Price Index (CPI) decreased to 2.7% from 3% in September, indicating a positive trend in inflation [1] - The core CPI also fell from 3% to 2.6% year-over-year, suggesting further improvement in inflation metrics [1] Employment Data - Initial jobless claims dropped to 224,000 from a revised 237,000 the previous week, reflecting a strengthening job market [1] - Continuing claims increased to 1,897,000 from 1,830,000, indicating some ongoing challenges in employment [2] Business Outlook - The Philadelphia Fed's business outlook index declined to -10.2% from -1.7%, signaling a more pessimistic view among businesses [2] - The prices paid index decreased to 43.6% from 56.1%, suggesting lower inflation expectations among businesses [2] Price Trends - Gasoline prices rose by 3% in November after a 2.1% decline in October, indicating volatility in energy prices [4] - New vehicle prices increased by 0.1% in October and 0.2% in November, while used car prices rose by 0.7% in October and 0.3% in November, showing some stabilization in the automotive market [4] - Food prices increased by 2.6% year-over-year, with grocery prices specifically rising by 1.9%, reflecting ongoing inflationary pressures in the food sector [4][5]