Inflation slowed much more than expected in November. It's the first release since the government shutdown.

"The year-over-year inflation rate in November was 2.7%, much cooler than the 3.1% forecast. It's the first inflation report since the government shutdown. We won't have one for October. BLS published labor market data on Tuesday, bringing even more clarity to the previous murky data picture. The year-over-year inflation rate slowed to 2.7% in November from September's 3%, the last month with data. Economists expected a 3.1% rate, which would have been the highest since May 2024."

"Core CPI, which excludes volatile food and energy prices, rose 2.6% from a year ago in November, below the 3% forecast and September's year-over-year rise. The food index also increased 2.6% over the year in November, lower than September's 3.1% rise. Food away from home, such as at restaurants, rose more quickly than food at home, such as groceries, rising 3.7% and 1.9% respectively."

The Bureau of Labor Statistics reported that year-over-year consumer inflation slowed to 2.7% in November, below economists' 3.1% forecast and September's 3.0 rate. Core CPI excluding food and energy rose 2.6% year-over-year. The food index climbed 2.6%, with food away from home up 3.7% and food at home up 1.9%. The shelter index rose 3.0%, lower than September's 3.6% increase. The BLS could not calculate an overall CPI for October because the government shutdown disrupted data collection. Recent BLS labor market data showed stronger job growth, higher unemployment than September, and slowing wage growth, influencing Federal Reserve considerations.

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