Headline Roundup • December 13th, 2022
Annual Inflation Rose 7.1% in November
Summary from the AllSides News Team
The consumer price index (CPI) rose 7.1% over the year ending in November and climbed 0.1% from the previous month, according to the Bureau of Labor Statistics.
For Context: Economists surveyed by Dow Jones had expected a 0.3% monthly increase and a 7.3% annual jump, making November's report better than anticipated. That report was similar to October's data, which also showed inflation easing but remaining near record-high levels.
The Details: Amid falling gas prices, energy prices overall dropped 1.6% from October, but remained 13.1% higher than last year. No item in the CPI rose by over 2% on a monthly basis for the first time since July. Food prices have risen slightly each of the last seven months, and are 10.6% higher than a year ago.
How the Media Covered It: The inflation report was the top story from news sources across the political spectrum Tuesday morning. Left- and center-rated sources often focused on the positives. USA TODAY highlighted how prices "throttled back significantly for a second month." CNBC said the report is "the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up." Conversely, Fox Business highlighted how "consumer prices remained near a multi-decade high" and how high prices are "continuing to squeeze millions of U.S. households and small businesses."
Featured Coverage of this Story
CNBC
Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up.
The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department reported Tuesday. Economists surveyed by Dow Jones had been expecting a 0.3% monthly increase and a 7.3% 12-month rate.
The increase from a year ago, while well above the Federal Reserve’s 2% target for a...
Inflation moderated more than expected in November, but consumer prices remained near a multi-decade high, continuing to squeeze millions of U.S. households and small businesses.
The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in November from the previous month. Prices climbed 7.1% on an annual basis.
Those figures were both lower than the 7.3% headline figure and 0.3% monthly increase forecast by Refinitiv economists, a potentially reassuring sign for the Federal Reserve...
Inflation throttled back significantly for a second month in November but remained elevated as goods prices that surged during the pandemic continued to dip. But the cost of services kept marching higher.
Consumer prices increased 7.1% from a year ago, down from a 7.7% advance in October and a 40-year high of 9.1% in June, as rising food and rent costs again offset declining gas prices, according to the Labor Department’s Consumer Price Index.
Economists surveyed by Bloomberg expected yearly inflation to dial back to 7.3%.
On a monthly basis, consumer prices increased just 0.1% following a...
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