Inflation Eases Slightly in November, Yet Price Pressures Persist

The U.S. annual inflation rate slowed to 3.1 percent in November, down from 3.2 percent, and matching economists' expectations, according to the Bureau of Labor Statistics (BLS). The latest inflation data suggest the road to the Federal Reserve's 2 percent target could be a slow journey. On a monthly basis, the consumer price index (CPI) edged up 0.1 percent, slightly higher than the consensus estimate of 0 percent. This was also up from the October reading of 0 percent. Core inflation, which excludes the volatile energy and food components, was unchanged at an annual rate of 4 percent. The core CPI rose 0.3 percent monthly. Food…