U.S. core CPI rebounded in November, but inflation's downward path is bumpy

U.S. core inflation picked up in November, reinforcing the Federal Reserve's intention to keep interest rates high in the short term. The data showed that the core CPI, which excludes food and energy costs, increased by 0.3% after increasing by 0.2% in October, and the annual rate remained at 4%. The data highlighted the instability of the rebound in inflation. While price pressures have largely receded from multi-decade highs, a still-strong labor market continues to power consumer spending and the broader economy. Fed officials are expected to keep interest rates steady again, and Chairman Powell is likely to reiterate that he and his colleagues want to see a more sustainable pullback in price growth before easing policy. (Golden Ten)