US inflation rate slows as fuel costs fall

The rapid rise in consumer prices is slowing in the US, as the costs of energy, used cars, medical care and airfare fall.

US inflation rose 7.1% over the 12 months to the end of November, dropping from 7.7% in October, figures from the US Labour department show.

But though the overall picture is improving, the cost of some items such as housing continues to climb.

The US central bank is fighting to get inflation under control.

It has raised interest rates at the fastest pace in decades this year. Earlier this month, Federal Reserve chairman Jerome Powell said that the bank would start to move less aggressively to see how the moves are playing out in the economy.

By boosting borrowing costs, the Fed is expecting to cool demand for big ticket items such as homes and cars, helping to slow the economy and ease the pressures pushing up prices.