Economy May Be Cooling as Inflation Slows in November

Economy May Be Cooling , as Inflation Slows in November.

NBC reports that November saw consumer price growth cool, indicating the economy may be slowing down.

November data may also be a sign that the Federal Reserve's aggressive rate-hikes to fight inflation are beginning to pay off.

In November, inflation hit 7.1%, down from 7.7% in October and below the 7.3% projected by analysts.

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According to the U.S. Bureau of Labor Statistics, it is the smallest 12-month increase since December of 2021.

NBC reports that the December 13 data also shows the first sustained decrease in gas prices, with the national average dropping to $3.24.

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NBC reports that the December 13 data also shows the first sustained decrease in gas prices, with the national average dropping to $3.24.

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Slowing demand and increasing supply have also contributed to the cost of durable goods like clothing, electronics and appliances also falling.

Slowing demand and increasing supply have also contributed to the cost of durable goods like clothing, electronics and appliances also falling.

Last week, another measure of inflation also showed slowing price growth, with notable price drops in airline tickets, car parts and hotel accommodations.

Last week, another measure of inflation also showed slowing price growth, with notable price drops in airline tickets, car parts and hotel accommodations.

Last week, another measure of inflation also showed slowing price growth, with notable price drops in airline tickets, car parts and hotel accommodations.

According to Kelly Blue Book, the price of used cars also continued to fall in November, while new car prices surged amid stronger luxury sales.

NBC reports that car prices are the second-largest "core" measure of inflation, with the largest component being the cost of rent.

NBC reports that car prices are the second-largest "core" measure of inflation, with the largest component being the cost of rent.

According to Apartment List, the national median rent fell by 1% month-over-month in November