Maybe inflation is transitory after all.
That wasn’t the expected conclusion from November’s consumer-price-index report, which came in a bit stronger than expected. Consumer prices rose 0.8% in November from October, topping forecasts for 0.7% while climbing 6.8% year over year, the highest rate since 1982. It was the blowout, superhot inflation number that everyone was expecting—and it was met with a shrug.
The…
