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The trend of inflation in the United States in November 2024

November 2024 Inflation Overview

Inflation in the United States increased by 0.3% in November 2024, in line with analysts’ forecasts. This increase, recorded by the Department of Labor, marks an acceleration compared to 2.6% in October, bringing the annual rate to 2.7%. The experts had anticipated this rise, highlighting a stability in
the economic data.

Analysis of sectors and prices

Looking at the details, the ‘core’ figure, which excludes the prices of food and energy goods, also showed an increase of 0.3%.

This maintains the trend observed in the previous three months, suggesting stability in the market. Energy prices registered an increase of 0.2% after a month of stability, while food saw an increase of 0.4%.
However, on an annual basis, energy prices fell by 3.2%, while food prices increased by 2.4%.

Mortgage applications and interest rates

In parallel with the trend in inflation, mortgage applications showed a significant increase in the week of December 6, with a 5.4% increase in the volume of mortgage applications. Refinancing requests increased by 27.2%, while those for new applications fell. This change in the mortgage market is influenced by 30-year mortgage rates, which have fallen to 6.67%, making loans more accessible for potential buyers
.

Future Perspectives

With inflation continuing to move in a context of moderate growth and mortgage applications increasing, analysts are wondering about the possible consequences for the US economy. The combination of controlled inflation and falling interest rates could further stimulate the housing market, making mortgages more affordable for American families. However, it is essential to monitor price trends and future monetary policies to fully understand the impact of these economic dynamics
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