Business

Consumer inflation rate drops in U.S. in November, now 7.1% year-on-year

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2 years ago

on

December 13, 2022

By

Sunday Odibashi

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Government data released Tuesday showed that consumer inflation in the United States (U.S.) slowed in November, though the figure is still about three times the pre-pandemic rate.

Figures released by the Labor Department indicated that the consumer price index (CPI), a closely-watched measure of inflation, jumped 7.1 percent from a year ago, down from 7.7 percent in October.

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