Overview
- The Consumer Price Index rose 2.7% year over year in November and core CPI increased 2.6%, with the CPI up 0.2% over the two months ending in November.
- A 43‑day government shutdown blocked October survey collection, leading the BLS to rely on non‑survey data and carry‑forward methods that economists say likely pushed the reading lower, notably in shelter.
- New York Fed President John Williams said technical factors probably reduced the headline figure by about a tenth and signaled December data will help gauge the true trend.
- Goldman Sachs and ICICI Bank said the report is unlikely to shift the Fed’s near‑term policy outlook, with December CPI and core PCE seen as more consequential for the January meeting.
- U.S. stocks advanced and Bitcoin briefly topped $88,000 after the release, even as prices for essentials such as coffee, ground beef and electricity remain elevated from a year earlier.