Money Inflation slowed sharply but stayed high in November. Here’s what to know about latest CPI report. December 13, 2022December 13, 2022Paul Davidson, USA TODAYComments Off on Inflation slowed sharply but stayed high in November. Here’s what to know about latest CPI report. Inflation slowed to 7.1% in November as falling gas prices were offset by rising food, rent costs. It's the smallest annual increase since late 2021.