The latest Consumer Price Index report—an inflation gauge that measures price changes for a basket of consumer goods and services—ticked down slightly to 3.1 percent for the 12 months that ended in November, according to Bureau of Labor Statistics data released Tuesday.
Stripping out the more volatile components of food and energy, the core index held steady at a 4 percent year-over-year growth rate, or its lowest level since September, 2021.
The latest CPI report came in almost exactly as economists had expected, and served up further evidence that high inflation is slowly abating.
