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

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

• The consumer price index rose just 0.1% from the previous month, and increased 7.1% from a year ago, compared with respective estimates of 0.3% and 7.3%.
• Core CPI rose 0.2% on the month and 6% on an annual basis, compared with respective estimates of 0.3% and 6.1%.
• Stocks roared higher following the report as investors look for signs that runaway inflation is ebbing.
• Inflation-adjusted average hourly earnings for workers rose 0.5% for the month, though they were still down 1.9% from a year ago.

https://www.cnbc.com/2022/12/13/cpi-inflation-november-2022-.html