WASHINGTON, D.C. — US consumer prices increased in November by the most in seven months, but the Federal Reserve (Fed) was still expected to deliver a third consecutive interest rate cut next week to support a labor market that has been cooling.
Progress in lowering inflation toward the US central bank's 2-percent target has virtually stalled, with the report from the Labor Department on Wednesday also showing no improvement in the measure of underlying price pressures over the past four months.
