Kamil Krzaczynski | AFP | Getty ImagesA key economic report coming Wednesday is expected to show that progress has stalled in bringing down the inflation rate, though not so much that the Federal Reserve won't lower interest rates next week.
Excluding food and energy, so-called core inflation is forecast at 3.3%, or unchanged from October.
With the Fed targeting annual inflation at 2%, the report will provide more evidence that the high cost of living remains very much a fact of life for U.S. households.
Halting progress, but more cutsTo be sure, inflation has moved down considerably from its CPI cycle peak around 9% in June 2022.
Car prices are expected to show a 2% monthly increase, while air fares are seen as 1% higher, the firm's economists projected in a note.
Persons:
Kamil Krzaczynski, Dow Jones, Dan North, Goldman Sachs, Goldman
Organizations:
AFP, Getty, Federal, Allianz Trade, of Labor Statistics, CPI
Locations:
Chicago, U.S