U.S. consumer prices increased by the most in seven months in November, but that is unlikely to discourage the Federal Reserve from cutting interest rates

The Consumer Price Index for November indicated inflation rose 0.3% month over month with some grocery prices increasing. NBC News’ Brian Cheung and Investopedia’s Editor-in-Chief Caleb Silver walk through the numbers as prices slowly increase.

Key Takeaways The Consumer Price Index rose 2.7% over the year in November, up from 2.6% in October, marking the second consecutive month inflation has risen year-over-year.Groceries and used cars were among the items that got noticeably more expensive.