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US inflation slowed to 3.1% in November
04:46
US
US inflation slowed to 3.1% in November
US core inflation, often a bellwether for longer-term inflation, rose last month, bolstering arguments by the US Federal Reserve that interest rates may need to remain higher for longer. Prices rose 0.3 percent during November, while the year-on-year core rate remained flat at 4 percent. China is leading declines today among Asian markets and European stocks are heading for a mixed open ahead of a Federal Reserve rate decision. The Fed will most likely hold its benchmark overnight borrowing rate of 5.25% to 5.5%, but investors will be analyzing Chair Jerome Powell's commentary for clues on how soon rate cuts can be expected.
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