it does suggest there is a growing body of evidence that the worst may be behind us, that it s moving towards healthier levels. today the report is that was cooler than expected, it s the fifth straight month of cooling inflation, the lowest figure for that metric all year. core prices, month over month, were the lowest, but i do think we have to be careful we don t know for sure this trend will continue. we also don t know how long it s going to take. healthy, in some parts of the economy are still running hot. food prices have continued to rise sharply. we ve seen egg prices, butter, flour, all of them up sharply. shelter is another sore spot.
prices aren t rising as quickly. and here s the key. it s a trend on the far right side of that graph you can see that line taking a sharp dive, that is five straight months of cooling inflation which is what you want to see, right? we have an analyst here to break it down for us. ronna, can you tell us is the worst behind us? you know, ana, they are working. that s the great news. it has been painful, you know, when rates go up, debt gets more expensive, houses get more expensive but the bottom line is we are seeing a cooling in inflation. now, this is happening for a lot of reasons, i think i give the fed a lot of credit here. there s slowing down of the economy. that helps some as a tailwind as well. i m hopeful by next year you ll see inflation really sign significantly lower than it is now. where are we seeing the
ngehiclorah, to wearse access thetyeaures o donnell: good remi. errol barnett, thank you so much. turning to the scientific breakthrough that could change the way we pour cars tofuon on thauld create an niclean energy, the same type of reaction that powers the sun and doesn t produce nuclear waste. this is a major milestone but commercial use could still be decades away. good news on the u.s. economy, inflation eased more than expected in november to its slowest pace in nearly a year. the consumer price index showed prices increased just over 7% compared to the same month a year ago. the dow, nasdaq and s&p 500 reacted to the news, ending the day in positive territorysides. despite signs of cooling
the fed s war on inflation, and treasury secretary janet yellen is striking a cautiously optimistic view. she thinks a year from now inflation will be, quote, much lower than it is now. she s saying a recession, while it s a risk, it is not required to get inflation under control. many other economists, they have been overly optimistic on the inflation front, right? it s proven to be a lot more stubborn than people anticipated. we ll get another big check on inflation tomorrow. the cpi consumer price inflation. that is not good, and as you can see on your screen though, this would be an improvement. this will be the fifth straight month of cooling inflation, and the lowest level all year. that would be a step in the right direction, and that sets the stage for the fed meeting on wednesday. that s a slam-dunk that the fed is going to raise interest rates yet again. the question of course, is by how much? the market is betting the fed is going to slow the pace.
believe the economy is still in a downturn, only 17% believe it s starting to recover. harry enten is here to break down the polling, but first matt egan is joining us to walk through the new numbers. it s not all doom and gloom, right? right. it s not all doom and gloom. earlier this year inflation kept getting hotter and hotter and hotter, right, that was crushing consumers and freaking out economists and investors. that is really not the case anymore. it is cooling off. now, today s report focuses on wh wholesale inflation. inflation before it gets to consumers and prices jumped 7.4% year over year in november. the good news is this is the fifth straight month of cooling inflation by this measure. also, this is the lowest annual rate of inflation for this metric in a year and a half. the pace of improvement has been disappointing. this was hotter than expected. people are still feeling this high cost of living. maybe not as much at the gas