Inflation Data - Consumer prices rose 2.8% in November from a year earlier, up from a 2.7% annual pace in October, indicating persistent inflationary pressures [1][5] - Core prices, excluding food and energy, also increased by 2.8% year-over-year in November, slightly higher than October's 2.7% [1][4] Consumer Spending - Consumer spending climbed 0.5% in November from the previous month, suggesting a healthy economic growth pace in the final quarter of the year [2] - The economy expanded at a robust 4.4% annual rate in the July-September quarter, marking the fastest growth in two years [6] Federal Reserve Implications - The latest figures suggest that the Federal Reserve is less likely to reduce its key interest rate in the upcoming meeting, as the economy shows solid footing despite a cooling labor market [3][7] - Economists believe there is little urgency for the Fed to cut rates if growth remains strong and inflation continues above target levels [4]
Fed's preferred inflation gauge ticks up, denting rate-cut hopes: ‘Economy remains on a solid footing'
New York Post·2026-01-22 19:01