According to data released by the U.S. Bureau of Labor and Statistics on Tuesday, inflation fell to 3.1% for the one-year period ending in November.
Likewise, the Consumer Price Index’s core index measured a 4% year-over-year growth rate, its best since September 2021.
The inflation decrease comes as the average hourly wage increased by an 8% estimated rate in November.
However, economic analysts say that inflation remains above levels desired by the Federal Reserve while rising prices continue to affect consumer’s pockets.
