U.S. CPI Inflation Trended Lower in November, Rising 3.1% From a Year Ago

The core rate of CPI inflation was higher by 4% year-over-year, in line with forecasts.

AccessTimeIconDec 12, 2023 at 1:41 p.m. UTC
Updated Mar 8, 2024 at 6:33 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The Consumer Price Index (CPI) for November met economist forecasts, with headline inflation slipping to 3.1% versus 3.2% a month earlier.

Monthly headline CPI was higher by 0.1%, in line with expectations and up from 0.0% in October. The core CPI – which strips out volatile food and energy items – rose 0.3% on a monthly basis versus 0.3% expected and 0.2% in October. Annual core CPI was higher by 4% versus forecasts for 4% and 4% in October.

The price of bitcoin (BTC) was little changed in the minutes following the report, remaining modestly higher for the session at $41,900.

Today's inflation data is not likely to swing market participant positioning that the U.S. Federal Reserve will almost assuredly remain on hold iat its next two policy meetings, keeping its benchmark fed funds rate at the 5.25%-5.5% range.

U.S. stock index futures rose modestly following the data, with the S&P 500 higher by 0.25%. The 10-year Treasury yield down one basis point at 4.22%.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Stephen  Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about