The US CPI data for November has been released, and it indicates inflation may be on its way down.
The CPI has dropped down to 7.1 percent, which is a step down from 7.7 percent in October and below the peak of 91 percent in June 2022.
This indicates that inflation is past its peak and is coming down to a more manageable level in the US.
Deborah Lambie, Investment Analyst at Milford Asset Management says the markets are responding well, but the US Federal Reserve may hike up the OCR by 50 basis points to be safe.
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