Growth: New vehicle sales in the U.S. are projected to have risen 6.7% in November from a year earlier, driven by higher discounts to clear elevated inventory, according to a new joint report by industry consultants. Although sticky inflation and high interest rates have dented demand, lower price tags have helped lift volumes at some automakers. Read more from Reuters.
Dropping: Turkey prices in the U.S. are dropping despite supply tightening, which experts say signals disappointing holiday demand as consumers continue to fret over the cost of food. While it’s still too early for sales figures for the holiday, experts are pointing to slumping production figures. Read more from Bloomberg.
Stalled: Consumer price increases accelerated last month, the latest sign that inflation’s steady decline over the past two years has stalled. Consumer prices rose 2.3% in October from a year earlier, the Commerce Department said Wednesday. That is up from just 2.1% in September, though it is still only modestly above the Fed’s 2% target. Read more from the Associated Press.
Editor’s note: Daily Report will not be published on Thursday, Nov. 28, or Friday, Nov. 29, in observance of the Thanksgiving holiday. Daily Report will return on Monday, Dec. 2. Have a safe and happy holiday!
