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U.S. CPI Inflation Trended Lower in November, Rising 3.1% From a Year Ago
The core rate of CPI inflation was higher by 4% year-over-year, in line with forecasts.
The Consumer Price Index (CPI) for November met economist forecasts, with headline inflation slipping to 3.1% versus 3.2% a month earlier.
Monthly headline CPI was higher by 0.1%, in line with expectations and up from 0.0% in October. The core CPI – which strips out volatile food and energy items – rose 0.3% on a monthly basis versus 0.3% expected and 0.2% in October. Annual core CPI was higher by 4% versus forecasts for 4% and 4% in October.
STORY CONTINUES BELOW
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The price of bitcoin [BTC] was little changed in the minutes following the report, remaining modestly higher for the session at $41,900.
Today's inflation data is not likely to swing market participant positioning that the U.S. Federal Reserve will almost assuredly remain on hold iat its next two policy meetings, keeping its benchmark fed funds rate at the 5.25%-5.5% range.
U.S. stock index futures rose modestly following the data, with the S&P 500 higher by 0.25%. The 10-year Treasury yield down one basis point at 4.22%.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
