Inflation continued to hover near a 40-year high last month, squeezing Americans in the form of higher prices for basic necessities like groceries and rent.
Inflation continued to grip thein November as the soaring cost of rents and food kept consumer prices painfully high.
as it tries to tame runaway inflation with a series of aggressive interest rate hikes. It marked the slowest annual inflation rate since December 2021.in the economy are starting to slow, core prices – which strip out the more volatile measurements of food and energy – climbed 0.2% in November from the previous month, down from 0.3% in October. From the same time last year, core prices jumped 6%.
Consumers paid more for a number of everyday staples in November. The cost of eggs, for instance, surged 2.3% in the one-month period from October to November. Other necessities that increased in price included cereal , bread , fish and seafood , fresh fruits and fresh vegetables , including tomatoes and lettuce .A"For Rent" sign outside an apartment building in the East Village neighborhood of New York, on July 12, 2022.
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