U.S. Consumer Price Growth Slows More Than Expected In November
(RTTNews) - A highly anticipated report released by the Commerce Department on Friday showed consumer price growth in the U.S. slowed by more than expected in the month of November.
The report said the annual rate of consumer price growth decelerated to 2.6 percent in November from a downwardly revised 2.9 percent in October.
Economists had expected the pace of price growth to slow to 2.8 percent from the 3.0 percent originally reported for the previous month.
The annual rate of growth by core consumer prices, which exclude food and energy prices, also slowed to 3.2 percent in November from a downwardly revised 3.4 percent in October.
Economists had expected core consumer price growth to decelerate to 3.3 percent from the 3.5 percent originally reported for the previous month.
The readings on inflation, which are said to be preferred by the Federal Reserve, were include in the Commerce Department's report on personal income and spending.
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