Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated.
Consumer prices rose 2.7% in November from a year earlier, up from a yearly figure of 2.6% in October. Excluding volatile food and energy costs, so-called core prices increased 3.3%, the same as in the previous month. Measured month to month, prices climbed 0.3% from October to November, the biggest such increase since April. Core prices also rose 0.3% for a fourth straight month.
Wednesday’s inflation figures from the Labor Department are the final major piece of data that Federal Reserve officials will consider before they meet next week to decide on interest rates. The relatively mild November increase won’t likely be enough to discourage the officials from cutting their key rate by a quarter-point. The probability of a rate cut next week, as envisioned by Wall Street traders, rose to 98% after Wednesday’s inflation report was released, according to futures pricing tracked by CME FedWatch.
“It’s generally in the ballpark of what the Fed would like to see,” said Jason Pride, chief investment strategist at Glenmede, a wealth management firm. Though sharp increases for such items as groceries and hotel rooms increased overall inflation last month, those categories are often volatile. Pride noted that the cost of services, such as rents, car insurance, and airline fares, cooled in November.
Last week, Fed Chair Jerome Powell suggested that with the economy generally healthy, the Fed could reduce its key rate slowly.
“We’re not quite there on inflation, but we’re making progress,” Powell said. “We can afford to be a little more cautious.”
With the job market cooling, growth in Americans’ paychecks has slowed from a nearly 6% annual pace in 2022 to about 4% now, a rate nearly consistent with inflation at the Fed’s 2% target. Powell has said he doesn’t think the current job market is a driver of higher prices.
Randy Carr, CEO of World Emblem, a maker of patches, labels and badges for companies, universities and law enforcement agencies, said he is providing smaller wage increases, in the 3% to 5% range, than his company did during the height of inflation.
“Things have kind of leveled off,” he said.
Carr’s customers, which include the company that makes emblems for UPS uniforms, generally won’t accept price hikes much more than 2% a year. So World Emblem aims to offset the cost of its higher wages through greater efficiencies in manufacturing.
In September, the Fed slashed its benchmark rate, which affects many consumer and business loans, by a sizable half-point. It followed that move with a quarter-point rate cut in November. Those cuts lowered the central bank’s key rate to 4.6%, down from a four-decade high of 5.3%.
Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major source of public discontent that helped drive President-elect Donald Trump’s victory over Vice President Kamala Harris in November.
Grocery prices jumped last month, an uncomfortable reminder for consumers that food prices remain a big drag on households’ budgets. Beef prices leapt 3.1% just from October to November and are up 5% from a year earlier.
Egg prices, which have been volatile for more than two years, in part because of outbreaks of bird flu, soared 8.2% just last month. They are nearly 38% higher than a year ago.
Gas prices ticked up 0.6% from October to November, ending a string of declines. Still, gas is down more than 8% from a year earlier. Hotel prices leapt 3.2% from October to November and are 3.7% higher than a year ago.
Ohio Republicans have tightened their grip on the Ohio Supreme Court from 4-3 to 6-1 by ousting two incumbent Democratic justices and winning a third, open seat, the Associated Press projects based on unofficial results. Results remain unofficial until they are certified by local county boards of elections and the Ohio Secretary of State.
The Ohio Supreme Court will rule on a variety of issues that affect the daily lives of Ohioans ranging from education and environmental issues to gerrymandering and elections to civil and reproductive rights.
The state’s highest court has been under Republican control since 1986 and Republicans currently have a 4-3 majority that will increase to 6-1 starting in 2025.
Republican Hamilton County Court of Common Pleas Judge Megan Shanahan defeated incumbent Democratic Justice Michael P. Donnelly, according to unofficial results.
“I’m honored and grateful to the millions of Ohioans who have put their trust in me to be their Ohio Supreme Court Justice,” Shanahan posted on her campaign Facebook page. “I’ll be true to what I campaigned on and will be a Supreme Court Justice who knows that my job is to interpret the law, not to make it. I’ll go to work each day and focus on protecting Ohio’s citizens, communities, and constitution.”
Incumbent Republican Justice Joseph Deters defeated incumbent Democratic Justice Melody Stewart — ousting her from the court, unofficial results show.
A federal appeals court judge has ruled to keep Sean “Diddy” Combs locked up while he makes a third bid for bail in his sex trafficking case, which is slated to go to trial in May.
In a decision filed Friday, Circuit Judge William J. Nardini denied the hip-hop mogul’s immediate release from jail while a three-judge panel weighs his bail request.
Combs’ lawyers appealed to the 2nd U.S. Circuit Court of Appeals on Sept. 30 after two judges rejected his release.
Combs, 54, has been held at a federal jail in Brooklyn since his Sept. 16 arrest on charges that he used his “power and prestige” as a music star to induce female victims into drugged-up, elaborately produced sexual performances with male sex workers in events dubbed “Freak Offs.”
Combs has pleaded not guilty to racketeering conspiracy and sex trafficking charges alleging he coerced and abused women for years with help from a network of associates and employees while silencing victims through blackmail and violence, including kidnapping, arson and physical beatings.
At a bail hearing three weeks ago, a judge rejected the defense’s $50 million bail proposal that would’ve allowed the “I’ll Be Missing You” singer to be placed under house arrest at his Florida mansion with GPS monitoring and strict limits on visitors.
Judge Andrew L. Carter Jr., who has since recused himself from the case, said that prosecutors had presented “clear and convincing evidence” that Combs is a danger to the community. He said “no condition or set of conditions” could guard against the risk of Combs obstructing the investigation or threatening or harming witnesses.
In their appeal, Combs’ lawyers argued that the judge had “endorsed the government’s exaggerated rhetoric” and ordered Combs detained for “purely speculative reasons.”
“Indeed, hardly a risk of flight, he is a 54-year-old father of seven, a U.S. citizen, an extraordinarily successful artist, businessman, and philanthropist, and one of the most recognizable people on earth,” the lawyers wrote.
Combs’ lawyers have not asked the new trial judge, Arun Subramanian, to consider releasing him on bail. At a hearing Thursday, as Combs sat alongside his lawyers in a beige jail jumpsuit, Subramanian suggested he would at least be open to taking up the issue.
After setting a May 5 trial date, Subramanian briefly questioned Combs’ lawyers about his treatment at the Metropolitan Detention Center, which has been plagued by violence and dysfunction for years.
The Supreme Court left in place Friday two Biden administration environmental regulations aimed at reducing industry emissions of planet-warming methane and toxic mercury.
The justices did not detail their reasoning in the orders, which came after a flurry of emergency applications to block the rules from industry groups and Republican-leaning states. There were no noted dissents.
The high court is still considering challenges to a third Environmental Protection Agency rule aimed at curbing planet-warming pollution from coal-fired power plants.
The regulations are part of a broader effort by the Biden administration aimed at curbing climate change that includes financial incentives to buy electric vehicles and upgrade infrastructure, and rules tightening tailpipe pollution standards for cars and trucks.
The industry groups and states had argued the EPA overstepped its authority and set unattainable standards with the new regulations. The EPA, though, said the rules are squarely within its legal responsibilities and would protect the public.
An EPA spokesperson said Friday the agency is pleased that the Supreme Court denied applications to stay the final methane and mercury rules. EPA believes the rule tightening methane emissions from oil and gas drilling will deliver major climate and health benefits for all Americans, while the mercury rule will limit hazardous pollution from coal-fired power plants, spokesperson Remmington Belford said.
The methane rule will build on innovative technologies and solutions that many oil- and gas-producing states and companies are already using or have committed to use, while the mercury and air toxics rule “will ensure that the nation’s coal-fired power plants meet up-to-date standards for hazardous air pollutants,” Belford said.
Both rules are firmly grounded in the EPA’s authority under the Clean Air Act, he said. The Supreme Court has shot down other environmental regulations in recent years, including a landmark decision that limited the EPA’s authority to regulate carbon dioxide emissions from power plants in 2022, and another that halted the agency’s air-pollution-fighting “good neighbor” rule.
The methane rule puts new requirements on the oil and gas industry, which is the largest emitter of the gas that’s a key contributor to climate change. A lower court previously refused to halt the regulation.
Methane is the main component in natural gas and is far more potent than carbon dioxide in the short term. Sharp cuts in methane emissions are a global priority — including the United States — to slow the rate of climate change.
The methane rule targets emissions from existing oil and gas wells nationwide, rather than focusing only on new wells. It also regulates smaller wells that will be required to find and plug methane leaks.
Studies have found that smaller wells produce just 6% of the nation’s oil and gas but account for up to half the methane emissions from well sites. The plan also calls for a phased-in requirement for energy companies to eliminate routine flaring, or burning of natural gas that is produced by new oil wells.
The states challenging the rule called the new standards “impossible to meet” and said they amounted to an “attack” on the industry.
The mercury rule, meanwhile, came after a reversal of a move by the Trump administration. It updated regulations that were more than a decade old for emissions of mercury and other harmful pollutants that can affect the nervous system, kidneys and fetal development.
Industry groups and conservative-leaning states argued emissions were already low enough, and the new standards could force the shuttering coal-fired power plants.
Two controversial new rules passed by Georgia’s State Election Board concerning the certification of vote tallies are set to face their first test in court this week.
The Republican majority on the State Election Board — made up of three members praised by former President Donald Trump praised by name at a recent rally — voted to approve the rules last month. Democrats filed a legal challenge and argue the rules could be used “to upend the statutorily required process for certifying election results in Georgia.”
A bench trial, meaning there is a judge but no jury, is set to begin Tuesday before Fulton County Superior Court Judge Robert McBurney.
One of the rules provides a definition of certification that includes requiring county officials to conduct a “reasonable inquiry” before certifying results, but it does not specify what that means. The other includes language allowing county election officials “to examine all election related documentation created during the conduct of elections.”
A series of recent appointments means Trump-endorsed Republicans have had a 3-2 majority on the State Election Board since May. That majority has passed several new rules over the past two months that have caused worry among Democrats and others who believe Trump and his allies may use them to cause confusion and cast doubt on the results if he loses this crucial swing state to Democratic Vice President Kamala Harris in November’s presidential election.
Another rule the board passed more recently requires that poll workers count the number of paper ballots — not votes — by hand on election night after voting ends. A separate lawsuit filed by a group headed by a former Republican lawmaker initially challenged the two certification rules but was amended last week to also challenge the ballot counting rule and some others that the board passed.
Georgia Secretary of State Brad Raffensperger and an association of county election officials had cautioned the state board against passing new rules so close to the election. They argued it could cause confusion among poll workers and voters and undermine public trust in the voting process.
The challenge to the certification rules filed by Democratic groups and others asks the judge to confirm that election superintendents — a multi-person election board in most counties — have a duty to certify an election by the deadline provided in the law and have no discretion to withhold or delay certification. They ask that it should be declared invalid if the judge believes either of the rules allows such discretion.
Lawyers for the State Election Board argue the Democrats are asking the judge to “declare what is already enshrined in Georgia law,” that county certification is mandatory and must occur by 5 p.m. the Monday after the election, or the next day if Monday is a holiday, as it is this year. They also argue the challenge is barred by the principle of sovereign immunity and seeks relief that isn’t appropriate under the law.
The challenge was filed by the state and national Democratic parties, as well as county election board members from counties in metro Atlanta, most chosen by the local Democratic Party, as well voters who support Democrats and two Democratic state lawmakers running for reelection. It was filed against the State Election Board, and the state and national Republican parties joined the fight on the board’s side.
The Democrats concede in their challenge that the two rules “could be read not to conflict with Georgia statutes” but they argue “that is not what the drafters of those rules intended.”
“According to their drafters, these rules rest on the assumption that certification of election results by a county board is discretionary and subject to free-ranging inquiry that may delay certification or render it wholly optional,” they wrote in a court filing.
They also note that numerous county election officials around the state have already sought to block or delay certification in recent elections and “the new rules hand those officials new tools to do so again in November.”
State lawyers argue that since the argument against the rules is based on the alleged intent of the people who presented them or the way some officials could interpret them, rather than on the text of the rules themselves, the challenge should be thrown out.