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US inflation slows in line with forecasts

Annual inflation rate eases from 3.2% in October to 3.1% in November.

12 December 2023

US inflation has come in largely as expected, with the annual figure easing to 3.1% in November, partly due to lower energy costs. However, core inflation ticked up 0.3% in November after rising 0.2% in October. This keeps annual core inflation at 4.0% and will reinforce the Federal Reserve’s view that rate cuts are still some way off.

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Charles Hepworth

Investment Director
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