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FRB of New York: in November in the US prices rose by 2.95%

The Federal Reserve Bank of New York notes a record rise in prices in the US economy

The Federal Reserve Bank of New York cited data on inflation in the US economy, measured by the method of the underlying inflation gauge (UIG). According to the data of the bank, which is part of the US Federal Reserve, in November prices in the US economy accelerated to 2.95% against 2.91% in October. At the same time, gasoline prices jumped by 15.8%.

It is noteworthy that inflation in the US spins, despite a three-fold increase in the base interest rate this year. Thus, the weakening of the US dollar, which has fallen in price by almost 9% since the beginning of the year to the basket of six monetary units of the main trading partner countries, has become one of the factors of growth of not only dollar oil prices, but also the rise in the cost of goods and services in the US economy.

Prices from manufacturers in the US also show record growth in prices – they rose in annual terms in November to 3.1%, that is the fastest pace since December 2011. The price per square meter of housing in the US for the year increased by 6.15%.