US inflation unexpectedly cooled in November — slowing its tempo within the first report since September after a authorities shutdown disrupted knowledge gathering.
The Consumer Price Index rose 2.7% in November over the previous 12 months, down from 3% in September and beneath expectations of a 3.1% rise, the Bureau of Labor Statistics mentioned Thursday.
Core CPI – which excludes unstable meals and power costs – rose 2.6% over the identical interval, far beneath estimates of a 3% soar.
November’s inflation report didn’t embrace month-to-month figures, for the reason that BLS canceled the October inflation report final month as a record-breaking authorities shutdown prevented the gathering of knowledge.
Last week, the Fed slashed rates of interest for a 3rd time this yr on value pressures – even because it contends with a weakening labor market.
Fed Chairman Jerome Powell warned final week that upcoming financial knowledge “could also be distorted” by the shutdown and must be considered with a “considerably skeptical eye.”
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