US inflation likely edged up last month, though not enough to deter another Fed rate cut

AP Economics Writer

WASHINGTON (AP) — Annual inflation in the United States may have ticked up last month in a sign that price increases remain elevated even though they have plummeted from their painful levels two years ago. Consumer prices are thought to have increased 2.7% in November from 12 months earlier, up from an annual figure of 2.6% in October. The latest inflation figures are the final major piece of data that Federal Reserve officials will consider before they meet next week to decide on interest rates. A relatively mild increase won’t likely be enough to discourage the officials from cutting their key rate by a quarter-point.