Not all the inflation news was cheery.
Backing out volatile gasoline and food prices, inflation in the U.S. slowed again last month, up 7.1% year-over-year. That was lower than economists’ exception of a 7.3% increase, per Bloomberg data.
Still, the latest report was not great news for grocery shoppers: Food prices in November rose 12.0% year-over-year.
On monthly basis, the category increased by 0.5%, according to the Bureau of Labor Statistics’ (BLS) November Consumer Price Index (CPI)….
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