Washington, DC (WOAY) – Inflation in the United States slowed again last month, showing price increases are cooling despite the pressures they continue to inflict on American households.
The government reports that consumed consumer prices rose 7.1% in November from a year ago.
That was down sharply from 7.7% in October and a recent peak of 9.1% in June, making it the fifth straight slowdown.
The consumer price index inched up just 0.1%.
The latest figures provide the strongest evidence to date that inflation in the United States is steadily slowing from the price acceleration that first struck about 18 months ago.