U.S. inflation showing signs it is past its peak

Inflation in the U.S. has slowed, and core inflation — which excludes food and energy, and is seen by economists as a better predictor of longer-term trends — has recorded the smallest rate rise in more than a year.

In November, the Core Price Index (CPI), which tracks the changes in prices consumers will see at stores, rose 0.2%, a 6% rise over the same time last year. Core goods prices fell for a second straight month in November by 0.5%.

The Federal Reserve raised the key interest rate by 50 basis points Tuesday, down from the 75-point hikes recorded earlier this year.

Elsewhere, inflation in Britain also slowed, but at 10.7% remains near its highest level in 40 years.