U.S. Inflation Cools Further in November: CPI Falls to 3.1%

The U.S. Bureau of Labor Statistics reported that the non-seasonally adjusted Consumer Price Index (CPI) for November came in at 3.1%, lower than the expected 3.10% and marking the lowest level since June 2023. This represents a continued decline in inflation, providing some relief for consumers grappling with rising costs. However, the core CPI, which excludes volatile food and energy prices, rose 0.3% in November, exceeding the expected 0.30% and reaching its highest level since September 2023. This suggests that underlying inflation pressures remain, even as headline inflation shows signs of cooling.