US inflation falls to 3.1% in November

In line with expectations

US inflation fell to 3.1% in November, down from 3.2% the month before and in line with expectations.

Meanwhile, core inflation, which excludes the more volatile food and energy prices, remained steady at 4%. CBI forecasts no Bank of England rate cuts until at least 2026 Shelter costs continued to be the largest contributor to core inflation throughout the month, and saw prices increase 0.4% in November. Used cars and trucks saw prices spike 1.6% in November, breaking a five month decline streak, while medical care and motor vehicle insurance prices also rose. Energy prices continued to be a key detractor, dropping 2.3% throughout the month, while gasoline dropped 6%. Ot...