New York Federal Reserve Bank President John Williams stated on Friday that certain "technical factors" likely distorted November's inflation data, resulting in an overall reading lower than it otherwise would have been.
He noted: "There were some unique practical factors related to their inability to collect data in October and the first half of November. As a result, I believe certain categories of data were distorted, potentially lowering the CPI reading by about 0.1 percentage points."
He added: "It’s currently difficult to determine the exact magnitude of the impact. When December’s data is released, we may gain a clearer understanding of the extent of this distortion and its implications. However, I do think these technical factors slightly suppressed the data."
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