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2000s. 75 basis points, three quarters of a percentage point at the time, doesn't feel good. >> not normal at. all they are slowing the pace of, it and probably will slow the pace of. it going into 2023. but inflation remains steady high. especially for food and shelter costs. >> let's talk. inflation 7.1. percent that is more than anybody, generally speaking, was racist. gone is much lower than what we've. saying this is the consumer price index. we're talking about the. 70s all the way back to the, 70s and 80s, where inflation was at 15%. we are not there. we are in the seventh at this point...

Inflation was going to be lower seem to. bad but inflation on tuesday was announced to be lower than expected in a, november you consumer price index which was a key inflation barometer showed that prices were up 7.1% from a year ago. that is a lot. it is lower than a 7.7% back in october. on wednesday the federal reserve unascertained christine its benchmark interest rate by half a percentage point, which again is big. but until then, it had been increasing worries at three quarter percentage point of every opportunity. class four times. interest rates are now at their highest in 15, years an...

That's got to be a bummer for shoppers, for consumers in general down the road. >> definitely. and we're seeing those prices certainly inflate, but we're seeing that cpi index come down as well. and it's definitely lower,ing came in about 7.1%. it's lower year-over-year than it was last year, 7.7. and month other month it's slowly decreasing. but what we also have to think about ooh, neil, is that the savings rate is slowing too. consumers aren't saving as much as they used to compared to what they were saving during the pandemic. so before we have reserve for those rainy days just in case, i ...

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Reach. this seventh interest rate hike of the year as inflation appears to be slowing, running at 7.1% year over year. better than the 9.1% last june, but still too high. >> we understand the hardship that high inflation is causing. >> reporter: the fed chairman saying the fed will keep raising rates through the new year, making credit cards and new loans more expensive, affecting mortgages and likely pushing up unemployment. >> i wish there were a completely painless way to restore price stability. there isn't. this is the best we can do. >> reporter: gas prices have dropped. food and rent pr...