Federer went down to the Scot in straight sets, with his serve causing him particular problems.
The world number one described his performance as "average" and believes that the right man progressed.
"Overall Andy was just the better player and he deserved to win at the end really," Federer said.
"You'll pay the price by having an average game like that against a top guy like Andy."
Murray will face Novak Djokovic in tomorrow's final.