November CPI Data Aligns with Forecasts, Bolstering Fed Rate Cut Expectations

November’s Consumer Price Index (CPI) rose 2.7% year-over-year, meeting economists’ projections and supporting the Federal Reserve’s anticipated rate cuts. The monthly increase of 0.3% was the largest since April, while core inflation remained steady at 3.3% annually. Despite persistent inflation in shelter and services, experts believe the Fed will proceed with a 25bp rate cut at the upcoming FOMC meeting.