"CPI Data: November Inflation Report Indicates Cooling Prices, Easing Pressure on Fed"

The November inflation report is expected to show a slight cooling of price pressures in the US economy, with economists predicting a 3% increase in the consumer price index (CPI), just below the previous month's 3.2% rise. Gasoline prices are expected to drop significantly, resulting in flat monthly inflation. However, core prices, excluding food and energy, are anticipated to climb 0.3% monthly and 4.1% annually, indicating persistent underlying price pressures. The Federal Reserve, which has raised interest rates 11 times since March 2022, will closely monitor the report as it assesses the need for further rate hikes. Inflation continues to burden US households, particularly low-income individuals, who face higher costs for essential goods and services.