Inflation Rises As Expected In November, Sustains Hopes For December Interest Rate Cut
Inflation Rises As Expected In November, Sustains Hopes For December Interest Rate Cut
The index for shelter rose 0.3% in November, representing 40% of the monthly overall inflation increase.Inflationary pressures intensified as expected in November, but the trend is beginning to show signs of stickiness, posing fresh challenges to the Federal Reserve's 2% target after months of disinflation.
11月的通貨膨脹壓力如預期般加劇，但這一趨勢開始顯示出粘性，給聯邦儲備系統設定的2%目標帶來了新的挑戰，這是在經歷了幾個月的通貨緊縮之後。
The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October's 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics. This marks the second consecutive increase in annual inflation — a trend not seen since April.
根據TradingEconomics的數據，2024年11月消費者價格指數同比上漲2.7%，超過10月的2.6%讀數，並與分析師預估的2.7%持平。這標誌着年度通脹連續第二次上漲——這是自4月以來未曾見過的趨勢。
On a monthly basis, the CPI jumped 0.3%, accelerating from October's 0.2% gain and matching expectations of a 0.3% rise, official data released Wednesday shows.
從月度來看，CPI上漲0.3%，比10月的0.2%增幅有所加速，並與官方數據週三發佈的0.3%的預期相符。
The index for shelter rose 0.3% in November, representing 40% of the monthly overall inflation increase.
11月，住房指數上漲0.3%，佔整體月度通脹增長的40%。
Items that surged in November include shelter, used cars and trucks, household furnishings and operations, medical care, new vehicles and recreation. "The index for communication was among the few major indexes that decreased over the month," the Bureau of Labor Statistics said in a press release.
11月大幅上漲的項目包括住房、二手車和卡車、家居用品及服務、醫療保健、新車和娛樂。"通信指數是當月少數幾項下降的主要指數之一，"美國勞工統計局在一份新聞稿中表示。
Core inflation, which excludes volatile items like food and energy, remained stubbornly high at 3.3% year-over-year, in line with forecasts and consistent with the previous two months. This persistent level underscores the challenges in taming underlying price pressures. On a monthly basis, core inflation rose 0.3%, unchanged from October and matching expectations.
核心通脹排除了食品和能源等波動性項目，同比依然頑固地高達3.3%，與預測相符，並與前兩個月保持一致。這個持續的水平凸顯了抑制潛在價格壓力的挑戰。從月度來看，核心通脹上漲0.3%，與10月保持不變，符合預期。
Indexes that increased in November include shelter, used cars and trucks, household furnishings and operations, medical care, new vehicles and recreation. The index for communication was among the few major indexes that decreased over the month.
11月上漲的指數包括住房、二手車和卡車、家居用品及服務、醫療保健、新車和娛樂。通信指數是當月少數幾個下降的主要指數之一。
Services inflation grew by 4.6% on a year-over-year basis, marking a slowdown from October's 4.8% figure.
服務行業通脹同比增長4.6%，相比10月的4.8%有所放緩。
November Inflation Report: Key Highlights
十一月通脹報告：關鍵亮點
| Metric | November 2024 | October 2024 | Estimate |
|---|---|---|---|
| CPI (year-over-year) | 2.7% | 2.6% | 2.7% |
| CPI (month-over-month) | 0.3% | 0.2% | 0.3% |
| Core CPI (YoY) | 3.3% | 3.3% | 3.3% |
| Core CPI (MoM) | 0.3% | 0.3% | 0.3% |
| 指標 | 2024年11月 | 2024年十月 | 估計 |
|---|---|---|---|
| 消費者物價指數（同比） | 2.7% | 2.6% | 2.7% |
| CPI（環比） | 0.3% | 0.2% | 0.3% |
| 核心CPI（同比） | 3.3% | 3.3% | 3.3% |
| 核心CPI（環比） | 0.3% | 0.3% | 0.3% |
Interest Rate Cut Expectations Under Scrutiny
減息預期受到審查
The November CPI report comes just one week before the Federal Reserve's final policy meeting of 2024.
11月CPI報告發布正好是在聯儲局2024年最後一次政策會議前一週。
Markets have widely priced in a 86% probability of a 25-basis-point rate cut, anticipating further easing.
市場普遍預計有86%的概率會進行25個點子的減息，預期進一步放鬆。
The U.S. dollar index, as tracked by Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), showed no major reactions after the report, holding gains of 0.2% for the session.
由景順Db美元指數看好基金可交易ETF（紐交所：UUP）跟蹤的美元指數在報告發布後沒有出現重大反應，本場交易上升了0.2%。
Treasury yields slightly fell, with the rate-sensitive two-year note yield down by 2 basis points to 4.14%.
國債收益率小幅下降，利率敏感的兩年期票據收益率下降了2個點子，至4.14%。
Equity futures rose during premarket trading. S&P 500 futures were 0.4% higher.
股票期貨在盤前交易中上漲。S&P 500期貨上漲了0.4%。
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照片來自 Shutterstock。
譯文內容由第三人軟體翻譯。
