Here’s the inflation breakdown for November 2024 — in one chart

Published On Dec 11, 2024, 11:01 AM

In November 2024, the consumer price index (CPI) rose by 2.7% compared to the previous year, a slight increase from 2.6% in October, primarily driven by rising costs in groceries, gasoline, and new vehicles. Despite this uptick, economists suggest that inflation is not accelerating and describe the overall economic trends as stabilizing with potential for continued disinflation in the future. Shelter inflation showed signs of easing, which has been a significant contributor to the overall inflation rate. Although prices are still higher for essential goods, the overall market shows moderating wage growth and resilience in some sectors.

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Stock Forecasts

XLPView XLP chart on TradingView

Positive

The CPI data suggests ongoing consumer pressure from rising costs in essential goods, particularly food and transportation. However, with broader economic trends hinting at stabilization and potential disinflation, there is cautious optimism for market resilience. Stocks in consumer goods and transport sectors could see volatility but may also benefit from consumer demand.

TLTView TLT chart on TradingView

Positive

Despite inflationary pressures, the slight increase suggests that the Federal Reserve's efforts to stabilize prices might be having an effect. Investors in ETFs focusing on bonds may find opportunities as interest rates could stabilize amid cautious inflation trajectories.

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