Consumer prices rose less than expected in November, up 7.1% from a year ago

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Consumer prices rose less than expected in November, up 7.1% from a year ago

WWW.CNBC.COM

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The consumer price index was expected to increase 0.3% in November, according to Dow Jones estimates.

 

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Falling energy prices helped keep inflation at bay. The energy index declined 1.6% for the month, due in part to a 2% decrease in gasoline. Food prices, however, rose 0.5% and were up 10.6% from a year ago. Even with its monthly decline, the energy index was higher by 13.1% from November 2021.

 

[Commissar SFLUFAN]

This report (naturally) caused the equities markets to surge significantly though they've since pulled back a bit.