US inflation rose in November from the pace it set a month earlier — heating up for the second month in a row — as the Federal Reserve weighs how quickly to press ahead with cutting interest rates. The Consumer Price Index rose 2.

The Producer Price Index (PPI) for final demand in the US rose 3% on a yearly basis in November, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the 2.6% increase recorded in October and came in above the market expectation of 2.6%.

So-called core prices, which exclude more volatile measurements of gasoline and food to better assess price growth trends, were up 0.3% on a monthly basis in November and 3.3% from a year ago – both of which were unchanged from last month's readings.

U.S. consumer prices rose in line with analysts' expectations, according to the Bureau of Labor Statistics monthly report released Wednesday.

The British public's expectations for inflation increased in November, a quarterly Bank of England survey showed on Friday. Median inflation expectations for the year ahead increased to 3.0% in the latest survey from 2.

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.

US wholesale inflation shot higher last month, an unwelcome sign that some prices could be heating up before they come down the pike to consumers.

Consumer prices in France were up 1.7% year-on-year in November, statistics office INSEE said on Friday, in line with its preliminary reading published late last month.

Wholesale costs in the U.S. picked up sharply last month, a sign that price pressures are still evident in the economy even though inflation has tumbled from peak levels.