WASHINGTON - US consumer prices rose more than expected in November, which could further support the Federal Reserve's intention not to cut interest rates again in the near term after reducing borrowi
WASHINGTON - US consumer prices rose more than expected in November, which could further support the Federal Reserve's intention not to cut interest rates again in the near term after reducing borrowing costs three times this year.
Excluding the volatile food and energy components, the CPI rose by 0.2 percent, matching October's increase. The so-called core CPI was up by an unrounded 0.2298 percent last month compared to 0.1572 percent in October. It was lifted by gains in healthcare and prices of used cars and trucks, recreation and hotel and motel accommodation.
Fed officials were due to conclude a two-day policy meeting later on Wednesday. The U.S. central bank is expected to keep rates on hold after reducing borrowing costs in October for the third time this year. It has signaled a pause in the easing cycle that started in July when it cut rates for the first time since 2008.
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