November 2024 Consumer Price Index report: What time is the report released?

The Bureau of Labor Statistics will release the November Consumer Price Index report on Wednesday, December 11. The report is highly anticipated as it is the first following Donald Trump’s election and within the first few months of the Federal Reserve beginning to lower interest rates. Though the President-elect has touted plans for reducing the costs of American households, he inherits an economy where price growth is slowing.

In October, the CPI, one of the leading indicators of inflation in the United States, increased 0.2 percent, leading to a year-over-year inflation rate of 2.6 percent, led mostly by shelter. Since January, prices have increased by an average of 2.1 percent, showing that inflationary pressure is continuing to subside, but that doesn’t mean prices are falling, just that the pace of their growth is slowing. The prices of groceries have risen less than the CPI, rising 1.1 percent since October 2023. Rent, medical care, and transportation costs, namely motor vehicle insurance, have all risen over the last year above the CPI’s annual average.

Goldman Sachs forecasts that the November figures will clock in around 0.2 percent, pushing the year-over-year number to 2.7 percent.

Housing costs remain high

Over the last year, one of the main drivers of inflation has been the rapid increases in housing costs, including among renters. Over the last two years, rent prices have increased by twelve percent, and home prices have shot up in the high-interest rate market, with many potential sellers keeping their homes off the market.

What time will the report be released?

The report will be released by the BLS at 8:30 AM ET on Wednesday, December 11. The data on real wages for November will also be released on Wednesday morning.

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