Market Wire: Markets surge as Santa Claus comes to town
US consumer prices climbed by less than expected in November, giving the Federal Reserve some breathing room as it prepares to signal a deceleration in the pace of rate increases. According to data released by the Bureau of Labor Statistics this morning, the headline consumer price index rose 7.1 percent in November from the same period last year, up 0.1 percent on a month-over-month basis. Economists polled by major data providers ahead of the release projected an 7.3 percent annual gain and a 0.3 percent increase relative to October. A 1.6 percent month-over-month tumble in energy prices – led by...