Inflation is slowing, but still high. What you need to know
By CORA LEWIS
Associated Press
NEW YORK (AP) — After reaching 40-year highs over the summer, price increases in the U.S. are now steadily easing. Consumer inflation slowed to 7.1% in November from a year earlier and to 0.1% from October, the government said Tuesday. Stripping out volatile food and energy prices, so-called core inflation rose 6% over the past 12 months and 0.2% from October. Though inflation is slowing, prices remain steep, especially for food and many services. Here’s what you need to know about what’s happening now and what might come next.
