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US consumer inflation slows to 7.1% over past 12 months

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WASHINGTON (AP) — Inflation in the United States slowed again last month in the latest sign that price increases are gradually cooling despite the pressures they continue to inflict on American households.

Consumer prices rose 7.1% in November from a year ago, the government said Tuesday. That was down from 7.7% in October and a recent peak of 9.1% in June. It was the fifth straight slowdown.

On a month-to-month basis, the consumer price index rose just 0.1% in November, down from 0.4% in October.

Even with last month’s further easing of inflation, the Federal Reserve plans to keep raising interest rates.

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