US prices continued to rise despite Trump claims they are ‘rapidly’ falling
Longest federal government shutdown meant data was only collected for second half of November
TL;DR
- US prices rose 2.7% in the year to November, down from 3% in September.
- Unemployment rate hit 4.6% in November, a four-year high.
- The longest US federal government shutdown in history has impacted data collection.
- Donald Trump claimed prices were falling rapidly, despite evidence to the contrary.
- Economists suggest Trump's tariffs have contributed to rising prices.
- Polls indicate Americans are shifting blame for price increases onto Trump.
- The Federal Reserve is balancing inflation and unemployment, reducing interest rates three times this year.
- Fed officials may pause further rate cuts due to the current economic situation.