US Inflation Slows to 2.7% in November amid Holiday Discounts and Government Shutdown
The US Consumer Price Index (CPI) rose 2.7% year-over-year in November, marking a decrease from the 3.0% increase reported in September. This softer inflation reading could bolster expectations that the Federal Reserve might continue cutting interest rates. The data, produced by the Labor Department, experienced delays due to the federal government shutdown, which also affected some data collection efforts.
November's inflation pace was influenced by retailer promotions and discounts tied to the holiday shopping season. Analysts had anticipated higher inflation figures, so the November pace came in lower than many expectations. However, with the absence of October data, it is difficult to draw definitive conclusions about broader inflation trends.
Rising inflation concerns have added political pressure on President Donald Trump to provide relief on prices.
