energy prices bump key us inflation index up in november
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Energy prices bump key US inflation index up in November

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Energy prices bump key US inflation index up in November

Energy prices bump key US inflation index up in November
Washington - Al Maghrib Today

Rising prices for energy and other goods nudged a closely watched measure of US inflation a little higher in November, according to new data published Thursday.

The modest uptick could offer comfort to Federal Reserve policymakers who this month raised the benchmark interest rate for the third time in 2017 despite a long streak of weak readings on inflation.

But elsewhere in the Commerce Department numbers there were signs inflation pressures remained tame.

The Personal Consumption Expenditures price index, the Fed's preferred inflation statistic, gained 0.2 percent over October, undershooting analyst expectations for a 0.3 percent gain.

The important 12-month measure for the index, showed prices were 1.8 higher than November of last year -- just shy of the Fed's two percent target but no higher than in March.

Energy prices jumped 4.3 percent last month, more than offsetting the 1.1 percent dip in October, but food and durable goods prices fell 0.1 percent and 0.2 percent, respectively.

Excluding the volatile food and fuel categories, however, November price gains slowed to 0.1 percent, matching analyst expectations and down from October's 0.2 percent increase.

Year-on-year, the "core" measure rose a tenth of a point to 1.5 percent, the same as in June.

The annual core measure has been below the Fed's two percent target for nearly six years.

US central bankers have written off weak inflation this year as a product of a series of one-off idiosyncratic features -- such as sudden dips in prices for mobile phone plans and medications -- but cracks have appeared in the confidence in this explanation.

- Brisk spending, higher GDP? -

Outgoing Fed Chair Janet Yellen has acknowledged the central bank's understanding of the forces driving inflation is imperfect and structural factors could be behind the tepid price pressures.

A minority of members on the Fed's rate-setting committee have argued for forbearance in raising rates, and two voted against raising rates this month.

Nevertheless, Fed officials signaled they expect to raise the key lending rate three times in 2018, expecting that a continuing recovery and tightening labor markets will at last produce clear signs the economy is running hot.

Also in the November report, the Commerce Department reported that the pace of consumer spending was double that of gains in income, with incomes rising 0.3 percent, or $54 billion, but expenditures increasing 0.6 percent, or $87.1 billion.

The personal savings level of $426.2 billion was the smallest since August 2008.

Analysts said the strong consumer outlays last month pointed to stronger GDP growth in the fourth quarter. Barclays Research upgraded their GDP estimate a tenth of a point to 2.6 percent, while the New York Federal Reserve Banks' Nowcasting Report projecting 3.9 percent.

Mickey Levy of Berenberg Capital Markets said ordinarily consumers spending more than they earn would be cause for concern.

"Yet, with a very low unemployment rate, robust job gains and the individual income tax cuts in 2018, households should be able to sustain and even improve their rate of spending," he said in a research note.

Source: AFP

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

energy prices bump key us inflation index up in november energy prices bump key us inflation index up in november

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

energy prices bump key us inflation index up in november energy prices bump key us inflation index up in november

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 03:58 2016 Saturday ,30 July

9 killed as building collapses in western India

GMT 09:35 2017 Thursday ,27 April

UAE delegation meet Pope Francis

GMT 12:34 2017 Sunday ,05 February

Footballer hoped to participate in Super match

GMT 10:48 2017 Thursday ,22 June

Combustible cladding found in UK tower blocks

GMT 03:48 2012 Sunday ,15 April

100 years of Santos magic

GMT 00:26 2012 Friday ,13 January

The Road to Tahrir Square

GMT 09:12 2017 Tuesday ,12 December

Ronaldo v Neymar as Real draw PSG

GMT 12:11 2012 Friday ,01 June

We test diet deliveries in Dubai

GMT 14:38 2017 Saturday ,18 November

Year-end top ranking not realistic

GMT 10:10 2015 Thursday ,24 December

Celebrity chefs create gourmet delights

GMT 10:17 2017 Sunday ,13 August

BAB introduces BIBF to its members

GMT 12:01 2013 Saturday ,16 February

Flu outbreaks updated daily

GMT 10:50 2012 Thursday ,14 June

Tamer Hosni to marry a Moroccan girl

GMT 13:17 2012 Wednesday ,04 January

Israel has hindered judicial performance

GMT 00:25 2012 Saturday ,28 January

In the Orchard, the Swallows

GMT 14:02 2013 Friday ,18 January

Sniper kills French journalist in Syria\'s Aleppo

GMT 12:50 2015 Sunday ,27 September

Springbok skipper De Villiers out of World Cup

GMT 23:00 2017 Friday ,24 February

Blast injures woman in Bahrain

GMT 06:02 2016 Saturday ,03 December

Finance minister: India cash crunch to ease by year-end
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday