美国核心通胀放缓至2021年以来新低 顽固的物价压力意外出现缓和

Core Insights - The core inflation rate in the U.S. for November increased by 2.6% year-on-year, marking the lowest growth since early 2021, following several months of persistent price pressures [1][6] - The overall Consumer Price Index (CPI) for November showed a year-on-year increase of 2.7% [1][6] - The government shutdown complicated data collection, leading to difficulties in determining month-on-month changes and trends in key price categories [1][6][9] Inflation Trends - The core CPI rose by 0.2% over the two months leading to November, with declines in hotel, leisure, and clothing prices limiting the increase [1][6] - Despite limitations in data collection, the report suggests a potential easing of inflation pressures after a period of narrow fluctuations [7] - The report's impact on Federal Reserve decision-making remains uncertain, as there are still disagreements regarding the interest rate path for the upcoming year [8] Price Movements - Excluding food and energy, goods prices rose by 1.4% year-on-year, down from 1.5% in August and September [9] - New car prices increased by 0.2%, while the growth rate for used car prices has slowed [10] - Service prices, excluding energy, rose by 3% year-on-year, with airfares and hotel accommodation prices decreasing compared to the previous year [11] Data Collection Challenges - The government shutdown led to the cancellation of the October report and delayed the collection of November price data, resulting in a shortened data collection period [9] - The Bureau of Labor Statistics (BLS) utilized third-party data sources to report some monthly price changes, including for new cars, used cars, and gasoline [9]