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US inflation rate slows as fuel costs fall

Soaring consumer prices are slowing in the US as energy, used car, medical and airfare costs fall.

US inflation rose 7.1% in the 12 months to the end of November, falling from 7.7% in October, US Labor Department figures show.

But while the overall picture is improving, the cost of some items, like housing, continues to rise.

The US Federal Reserve is struggling to bring inflation under control.

It has hiked rates this year at its fastest rate in decades. Earlier this month, Federal Reserve Chair Jerome Powell said the bank would start trading less aggressively to see how the moves affect the economy.

By raising the cost of borrowing, the Fed expects to cool demand for large items like homes and cars, which will help slow the economy and ease the pressures that are pushing up prices.

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