Inflation is just about conquered, at least according to one number.

From Marketplace, I'm Sabrie Benashore, and for David Brancaccio.

So the latest measure of inflation puts it at 2.6% year over year in November.

Month to month, overall prices fell a tenth of a percent fell, partly because the price of gas has been coming down.

But there is more to it and for that we've got Christopher Lowe as we do on Fridays.

He's chief economist at FHN Financial in New York.

Hi Chris.

Good morning, Sabrie.

So there's 2.6% annual inflation but also if you just look

month to month prices actually went down a tenth of a percent. That sounds

pretty great. It's amazing.

You know, gasoline prices have been falling for three months now since mid-September.

They dropped enough in November to pull the headline inflation rate down.

Price pressures have moderated dramatically in the last six months.

Now energy is super volatile, food can be volatile.

So you take those out and you get what's called core inflation.

That's a little higher.

That's a 3.2% year over year. How do we feel about that?

The Fed targets 2% inflation.

So obviously if it's if the core is rising 3.2 that would suggest they still have work to do.

But there's so much progress that's been made in recent months that if you look at just the last six months and annualize

it the rate of core inflation is 1.9%.

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