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Consumer inflation increased 0.1% in November and 3.1% over the last 12 months, following October's 3.2%, according to the Bureau of Labor Statistics' (BLS) Consumer Price Index (CPI), released Dec..
Federal Reserve Chair Jerome Powell reiterated that inflation is still "too high" and that the path to bringing it down will be "bumpy," in an Oct. 19 speech at the Economic Club of New York. He added.
Contrary to most expectations, consumer inflation, bolstered by the rise in gas and shelter prices, rose again in September. It was up 0.4% for the month, and 3.7% in the past year-matching August's.