U.S. consumer prices increased by the most in seven months in November, but that is unlikely to discourage the Federal Reserve from cutting interest rates

The Consumer Price Index for November indicated inflation rose 0.3% month over month with some grocery prices increasing. NBC News’ Brian Cheung and Investopedia’s Editor-in-Chief Caleb Silver walk through the numbers as prices slowly increase.

Inflation, as measured by the producer price index, rose four-tenths of a percentage point to 3% for the year ending in November, the Bureau of Labor Statistics reported Thursday. The increase in the inflation rate is more than economists had anticipated and adds to recent signs that price pressures have not yet abated as President-elect Trump prepares to take