- NEWS Desk Global
STUBBORNLY HIGH RENTAL COSTS LIFT US CONSUMER INFLATION IN NOVEMBER
U.S. consumer prices unexpectedly rose in November as a decline in the cost of gasoline was more than offset by increases in rents, further evidence that the Federal Reserve was unlikely to pivot to interest rate cuts early next year.
The Labor Department on Tuesday also showed prices for used cars and trucks rebounded last month after five straight monthly decreases, helping to boost underlying inflation. U.S. consumers also paid more for healthcare and motor vehicle insurance.