According to a report released today by the Labor Department’s Bureau of Labor Statistics, the Consumer Price Index rose 2.7% year-on-year in November, below the projected forecast of 3.1%.
Today’s data marked the first inflation reading since November, with October’s report canceled as a result of the government shutdown.
Although U.S. consumer prices rose less than anticipated, Americans still face affordability challenges, partly attributed to tariffs on imports.
On a core basis, excluding food and fuel, prices rose 2.6% over the prior year in November.
In September, the latest month with available inflation data, both the headline and core CPI increased by 3% compared to the same month last year.
The Federal Reserve’s inflation target remains at 2%.
By CEO NA Editorial Staff
