US Consumer Inflation Eases as Rental Costs Remain High

US consumer prices unexpectedly rose in November, driven by increases in rents and healthcare costs, while gasoline prices declined. The consumer price index (CPI) increased 0.1% last month, with a year-on-year increase of 3.1%. Core CPI, which excludes food and energy, rose 0.3% and increased 4.0% on a year-on-year basis. The slightly firmer inflation readings, along with strong job gains, suggest that the Federal Reserve is unlikely to cut interest rates early next year. Inflation remains above the Fed's 2% target, but economists expect cooler readings in the coming year.