U.S. consumer inflation in November increased 2.7 percent from a year ago, after climbing 2.4 percent in September and 2.6 percent in October, the U.S. Labor Department reported Wednesday.
According to the report released by the Bureau of Labor Statistics, the Consumer Price Index (CPI), a broad measure of goods and services costs across the U.S. economy, increased 0.3 percent on a seasonally adjusted basis in November after rising 0.2 percent in each of the previous four months.
The latest inflation report showed that the so-called core CPI, which excludes food and energy, increased 0.3 percent in November, as it did in each of the previous three months. The core CPI rose 3.3 percent over the last 12 months ending November, indicating continued inflation pressure.
In a speech in Washington, D.C., earlier this month, Christopher Waller, a Federal Reserve governor and a member of the policy-setting Federal Open Market Committee, said that recent data have raised the possibility that progress on inflation "may be stalling at a level meaningfully above 2 percent," while noting that "this is a risk but not a certainty."
Despite warning of "stalling" progress, Waller said that based on the economic data in hand and forecasts that inflation will continue on its downward path to 2 percent over the medium term, he currently leans toward supporting a cut to the policy rate at the December meeting.
The Fed will hold its final monetary policy meeting of the year on Dec 17-18.
US CPI up 2.7 pct in November as inflation heats up
US CPI up 2.7 pct in November as inflation heats up
Instead of pursuing their dreams of a bright future, many youths in Gaza are ending up with their dreams shattered due to the escalating Palestine-Israel conflict.
Nineteen-year-old Mohammed Al Bahri from Gaza City is one of them.
Mohammed was a high school graduate with excellent grades and was successfully admitted to a local medical college last year. He had hopes of becoming a doctor after graduating from the college. Unfortunately, his dream and university life were both cut short after suffering a debilitating injury from as missile strike.
In February, Mohammed, the only boy and also pillar in his family, ventured out to find some food together with several other youths, but was hit by Israeli drone missile attacks.
One of Mohammed's companions was killed on the site, and he himself was seriously injured.
"I started running with a sense of extreme fear and panic, trying to escape to a safe place with my friends. I tried to avoid being tracked by the drone. But when I was running down the street, another drone fired a missile at me. The explosion blew me away and got me falling heavily to the ground. I screamed loudly in pain. It was so painful. I tried to stand up but found that my leg was seriously injured with broken bones, and was bleeding profusely. Five minutes later, another missile hit me," he said.
The attack cost Mohammed his right leg, but his ordeal did not end there.
Since October this year, the Israel Defense Forces continued to increase military operations in northern Gaza, including Beit Lahia, where Mohammed lived.
Mohammed had no choice but to embark on the road to escape.
"We walked on and on until we met Israeli soldiers. They treated me like an able-bodied person, completely disregarding my injury. They checked me with a scanner, then told me to go south. I walked from the Indonesia Hospital to Gaza City. I walked for three hours because of the injury," he said.
Now, Mohammed is no longer able to engage in heavy physical labor and can only rely on the meager income earned from a small booth to eke out a living for his family.
"This war completely affected my life. I have nothing now. The road to healing is long and arduous. My dreams have been shattered," he added.
War dashes hopes for normal life for Gazan youth
