WASHINGTON (Reuters) -- U.S. consumer prices increased by the most in seven months in November, but that is unlikely to discourage the Federal Reserve from cutting interest rates for a third time next week against the backdrop of a cooling labor market.
The consumer price index rose 0.3% last month, the largest gain since April after advancing 0.2% for four straight months, the Labor Department's Bureau of Labor Statistics said on Wednesday. In the 12 months through November, the CPI climbed 2.7% after increasing 2.6% in October.
