Breaking News
Uncategorized

High service prices slow progress on inflation

1 min read

WASHINGTON (AP) -- The picture of inflation that emerged from the government's November price data was a mixed one. Overall consumer inflation slowed. But underlying price pressures -- from apartment rents, restaurant meals, auto insurance and many other services -- remained stubbornly high. Last month's inflation data arrived just a day before the Federal Reserve will end a two-day policy meeting and announce its latest decisions on interest rates. Most economists expect the rate of price increases to keep slowing in the coming months. Though the decline could follow a bumpy path, inflation should fall much closer to the Fed's 2% target by the end of 2024. Wages and rental prices, among other items, are now increasing more gradually.

Starting at /week.