Client costs did not enhance as a lot as analysts predicted for November.
WASHINGTON — The Consumer Price Index for November 2022 rose 0.1%, after growing 0.4% in October, in keeping with the Bureau of Labor Statistics. Total, the all-items index measured a achieve of seven.1% over the previous 12 months, an indicator that though inflation is slowing, it’s nonetheless a difficulty for cautious customers who’re trading down of their buying selections.
The figures have been higher than economists’ expectations of seven.3% yr to yr and 0.3% from October.
This was the slowest annual inflation charge enhance since December 2021, an indication that the Federal Reserve’s rate increases could also be working to tamp down inflationary strain within the financial system.
The biggest will increase have been in meals and shelter prices. The meals index elevated 0.5% over the month with the meals at house index additionally rising 0.5%. The shelter index elevated 0.6% from October and 6.1% year-to-year. The power index decreased 1.6% over the month because the gasoline index, the pure gasoline index and the electrical energy index all declined.
Total furnishings and bedding costs rose 6.8% from a yr in the past however have been down 0.8% from October. Particularly, the costs of front room, kitchen and eating room furnishings have been up 10.3% from a yr in the past however down 0.3% from October.
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Jean Marie Layton is senior editor for upholstery at Furnishings Right now. A design and furnishings aficionado, she has labored as a author/editor in trade and non-profits, in educational administration and in retail furnishings gross sales. She pursued a grasp’s diploma within the historical past of design at Parsons/Cooper-Hewitt and has a BA in historical past from Mount Holyoke Faculty and an MA in liberal arts from Stanford College. Attain out to Jean Marie along with your story concepts, suggestions and extra at jlayton@furnituretoday.com
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