U.S. core inflation slows in November

Source: Xinhua| 2017-12-14 03:37:39|Editor: Mu Xuequan
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WASHINGTON, Dec. 13 (Xinhua) -- U.S. core inflation unexpectedly slowed in November due to declining prices of apparel, airline fares, and household furnishings, dampening the hope that the U.S. central bank might raise the interest rates in a quicker pace next year.

The so-called core consumer price index, which excludes volatile food and energy components, increased 0.1 percent on a seasonally adjusted basis in November from the prior month and 1.7 percent from a year earlier, the Department of Labor said on Wednesday.

In October, the core CPI advanced 0.2 percent from the prior month and 1.8 percent from a year earlier. Moderate inflation this year has raised concerns among some Federal Reserve officials that raising interest rates too quickly could unduly depress inflation.

The Fed decided to raise interest rates on Wednesday for the third time this year and expected to hike the rates three more times in 2018.

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