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US Consumer Prices Pick Up in Bumpy Path Down for Inflation
US consumer prices picked up in November, reinforcing the Federal Reserve’s resolve to keep interest rates elevated in the near term. The so-called core consumer price index, which excludes food and energy costs, increased 0.3% following a 0.2% advance in October, according to government figures. From a year ago, it advanced 4% for a second month. Economists favor the core metric as a better gauge of the trend in inflation than the overall CPI. That measure ticked up slightly after being little changed in October. From a year ago, it was up 3.1%. Tuesday’s data underscore the choppy nature of getting inflation ... (full story)