U.S. consumer prices rose the most in seven months in November, but that is unlikely to dissuade the Federal Reserve from cutting interest rates for a third time next week on the back of a slowing labor market.
The U.S. Department of Labor's Bureau of Labor Statistics revealed that the consumer price index rose 0.3 percent last month, the biggest gain since April after rising 0.2 percent for 4 consecutive months.
In the 12 months to November, the consumer price index rose 2.7 percent, after increasing 2.6 percent in October.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
