Surprise deceleration in inflation pressures dollar
Underlying consumer price growth slowed dramatically in the US last month, helping support expectations for a more aggressive easing campaign from the Federal Reserve in the new year. According to data published by the Bureau of Labor Statistics this morning—data that skipped the month of October—the core consumer price index rose just 2.6 percent in November over the same period last year, decelerating sharply from September’s 3.0-percent increase. This undershot all estimates among economists polled by the major data providers ahead of the release. On a headline all-items basis, prices climbed 2.7 percent year-over-year, also slowing from the 3.0 percent...