CPI report shows inflation rose at a 2.7% annual pace in November, cooler than expected
The Consumer Price Index rose at an annual rate of 2.7% in November, cooler than economists had forecast and providing a sign that price pressures may be easing.
By the numbers
The CPI was expected to rise 3% on an annual basis last month, according to economists surveyed by financial data firm FactSet. In the most recent inflation reading, from September, the CPI rate rose 3% on an annual basis.
November’s cooler inflation data comes after prices had inched higher throughout much of the year, with economists pointing to the impact of the Trump administration’s tariffs.
The CPI tracks the changes in a basket of goods and services typically bought by consumers, providing a snapshot of price changes on everyday items such as food and apparel.
So-called core inflation, or CPI data that excludes volatile food and energy prices, rose by 2.6% over the past 12 months, the Bureau of Labor Statistics said. Economists polled by FactSet had predicted a 3% increase for that measure.
Food prices rose 2.6% on an annual basis in November, down from 3.1% in September.
Thursday’s report provides the first glimpse of recent inflation data since late October, when the Bureau of Labor Statistics released September CPI data.
Data collection was disrupted due to the government shutdown, which delayed the September and November CPI reports. The Labor Department on Thursday said it didn’t collect October data due to the shutdown, but said it was able to retroactively acquire some non-survey data for the month.
