CHARLOTTE, N.C. — The new Consumer Price Index report will give economists a better look at U.S. inflation rates.
So is inflation getting worse in the U.S.? Right now, inflation isn't speeding up, but it's also not slowing down. Analysts predict Thursday's data will show little change from October, with core inflation growing about 3.3% over last year.
The Federal Reserve hoped to lower interest rates in 2024 to give the economy some breathing room, but if inflation doesn't come down, those rate cuts could be on hold. This would keep borrowing rates high and could have a major impact on the economy.
Factors like high rent, rising car prices and expensive insurance are driving the problem. And while wealthier Americans aren't feeling the pinch, everyday families certainly do.
The takeaway? Inflation progress is stuck and that could keep households under financial stress heading into the new year.
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