November saw an increase in prices for a wide range of products and services, but overall they were in line with expectations, which relieved further pressure on the Federal Reserve.
According to Labor Department data released on Tuesday, the consumer price index—a widely monitored indicator of inflation—rose 0.1% in November and was 3.1% higher than a year earlier. The Dow Jones survey of economists predicted a 3.1% annual rate and no growth.
Following the most recent meeting, Fed Chair Jerome Powell said that the Fed is prepared to raise rates once more if the economic data warranted such a move. Even if inflation has decreased further, it is important to remember that it is still below the Fed’s target of 2% annual inflation. Thus, this week’s rate hike by the Fed could increase savings rates.
Rates on certificates of deposit (CDs) and high-yield savings accounts are more likely to decrease as the year goes on due to the ongoing slowdown in inflation. This implies that savers need to move quickly if they wish to benefit from the current high rates.
Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins and Herbs. Become a WebFans Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E for Smooth Shave, Shields Against Irritation, Version X Men|Women
