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Inflation dropped to 2.7% in November, which was its lowest rate in months, according to data released by the Bureau of Labor Statistics on Thursday (December 18) via NBC News.
The data, which was collected later that usual, includes significant holiday discounting, which provides a hazy outlook on the overall figure.
"It’s possible that this does reflect a genuine drop off in inflationary pressures," said Paul Ashworth, Capital Economics' chief North America economist, via NBC News.
"But such a sudden stop, particularly in the more-persistent services components like rent of shelter is very unusual, at least outside of a recession," he added.
The Consumer Price Index (CPI) was the first inflation data released to the public since the record U.S. government shutdown that concluded in mid-November. A 0.2% change was reported between October and November, a statistic that the BLS doesn't typically release, and a number of adjustments were suspected in order to generate many of the figures shared on Thursday.
Food and what was deemed by the BLS as "shelter," including both rent and mortgages, saw significant easing in prices in November, according to the newly released data.
Food was reported to be at a 2.6% annual rate from November 2024 to November 2025, a 0.5% decrease from the 3.1% reported in September. Housing was reported to be at a 3.0% annual rate, a decrease of 0.6% from September.
Energy prices were, however, reported to have increased to 4.2% between November 2024 and November 2025, according to the data.
“The index for electricity increased 6.9% over the last 12 months,” the BLS stated.