Inflation rose at annual 7.1% over last year

Inflation rose at annual 7.1% over last year

Inflation slowed again last month, more than expected, as the Federal Reserve raised interest rates at the fastest pace in decades.

The Consumer Price Index (CPI) in November showed a 7.1% increase over last year and 0.1% increase over the month, the Bureau of Labor Statistics said Tuesday. Economists had expected prices to rise at an annual 7.3% clip and 0.3% month-over-month, per Bloomberg data.

On a “core” basis, which strips out the volatile food and energy components of the report, prices…


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