© Reuters.
By Geoffrey Smith
Investing.com -- Headline inflation in the U.S. fell by more than expected in November to its lowest level this year, according to new data released on Tuesday.
Consumer prices rose 0.1% from October and were up 7.1% from a year earlier, the Bureau of Economic Analysis said. Excluding volatile fuel and energy components, the 'core' CPI index rose 0.2% on the month and 6.0% on the year, also representing a sizeable slowdown.
The numbers bolstered hopes that the Federal Reserve will be able to soften its guidance on Wednesday when Chair Jerome Powell announces what is expected to be a 50 basis point increase in the target range for fed funds. S&P 500 Futures rose and the dollar fell as market participants moved to price in a lower trajectory for U.S. interest rates going forward.
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