Overview
- Headline CPI rose 2.7% year over year in November and core CPI increased 2.6%, both below the roughly 3.1% economists had expected.
- The Bureau of Labor Statistics canceled October’s report and omitted standard month‑to‑month comparisons for November due to the shutdown‑related data gaps.
- Stocks climbed and Treasury yields fell after the release, with S&P futures up about 0.8% and the 10‑year yield slipping to roughly 4.13%.
- Economists warned the truncated, late‑month price collection may have captured holiday discounts and could bias the reading downward.
- Fed watchers say the print informs the outlook but expect policymakers to look to December data before shifting the projected path of rate cuts, even as core inflation eased to its slowest pace since early 2021.