Investing.com -- Investors await the publication of the U.S. inflation report for November, which will likely factor into how Federal Reserve officials approach a major forthcoming interest rate decision. Elsewhere, «Fortnite»-maker Epic Games wins a closely-watched antitrust lawsuit brought against Google over the tech giant's Play app store.
1. Key U.S. inflation data ahead
Federal Reserve policymakers will have the chance to parse through key inflation data for November prior to unveiling their latest interest rate decision later this week.
Economists expect the annual headline consumer price index to come in at 3.1% last month, decelerating slightly from 3.2% in October. Month-on-month, the reading is seen holding steady, in line with the October mark of 0.0%.
So-called "core" consumer prices, which strip out volatile items like food and energy, are projected to have risen by 4.0% annually, matching the prior month. On a monthly basis, underlying price gains are estimated at 0.3%, a faster pace than 0.2% in October.
The numbers could provide a glimpse into the impact of the Fed's long-standing bout of interest rate hikes on price growth in the world's largest economy. Although many market observers are predicting that the central bank will soon begin to bring down borrowing costs, Fed Chair Jerome Powell has stressed that officials will continue to move «carefully» as they search for proof that a recent period of elevated inflation has been quelled.
2. Fed meeting to begin
The Fed is set to kick off its final two-day policy meeting of the year on Tuesday, with most observers all but certain that officials will choose to leave interest rates unchanged at a more than 22-year high of 5.25% to 5.50%.
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