Washington | The Federal Reserve is likely to press ahead with another 0.25 percentage point rate cut despite higher inflation readings on Wednesday (Thursday AEDT) that some say will prompt a change in tone from policymakers early next year.
Consumer prices rose 2.7 per cent in the year to November, up from 2.6 per cent in October, driven by higher used car and hotel room prices, the Bureau of Labor Statistics said. Core inflation, which excludes food and energy costs, increased 3.3 per cent, the same as in October.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
