Inflation dropped to 2.7% in November, report delayed by shutdown shows
Inflation unexpectedly dropped three-tenths of a percentage point to 2.7% for the year ending in November, according to an update to the consumer price index released Thursday by the Bureau of Labor Statistics.
TL;DR
- November inflation dropped to 2.7% year-over-year, lower than the projected 3.1%.
- The Bureau of Labor Statistics released the consumer price index update.
- The report's release was delayed by a government shutdown.
- Factors contributing to the drop include a loosening labor market, moderating wage growth, limited tariff pass-through, and moderating shelter costs.
- The Federal Reserve may find comfort in the report, enabling a focus on labor market weakness.