Understanding the Impact of Consumer Price Index on Food and Restaurant Prices
The recent trends in the Consumer Price Index are affecting food and restaurant prices, and what the future holds for grocery and dining expenses.
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Consumer Price Index Trends
The recent data on the Consumer Price Index (CPI) indicates a 0.3% rise in November, contributing to a 2.7% increase compared to November 2023. This figure falls in line with market expectations but represents a slight uptick from the 0.2% growth in the previous four months. The CPI serves as a key indicator of inflation, reflecting the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
