The Consumer Price Index climbed 2.7% from a year earlier in November, down from 3.0% in September and under economist predictions of 3.1%. Core inflation, excluding food and energy, hit 2.6%—its lowest since March 2021—while shelter costs eased to 3.0% and food rose 2.6%. Released after an October government shutdown delayed data collection, the report cheered markets, lifted stock futures and Bitcoin above $89,000, and fueled hopes for Federal Reserve rate cuts in 2026 to help borrowers.

“Unexpectedly.” Not for those of us who voted for Trump.

Remember all that left-wing panicmongering over Trump tariffs? And now crying about “affordability” but were silent when inflation shot to 9% under Biden. The left HATES you.

BREAKING: November CPI inflation unexpectedly FALLS to 2.7%, below expectations of 3.1%.

Core CPI inflation FALLS to 2.6%, below expectations of 3.0%.

This marks the biggest drop in US inflation since March 2025.

Inflation was WELL below expectations in November.

— The Kobeissi Letter (@KobeissiLetter) December 18, 2025

This is absolutely insane:

Inflation in the US just unexpectedly posted one of the largest monthly declines since 2023.

While a +10 basis point increase in inflation was expected, it actually FELL by -40 basis points.

This puts Core CPI inflation in the US at its lowest level… pic.twitter.com/gjiWID9ZdL

— The Kobeissi Letter (@KobeissiLetter) December 18, 2025

US inflation cools to 2.7% in November in first report after government shutdown

By Taylor Herzlich, NY Post, Dec. 18, 2025:

US inflation unexpectedly cooled in November — slowing its pace in the first report since September after a government shutdown disrupted data gathering.

The Consumer Price Index rose 2.7% in November over the past 12 months, down from 3% in September and below expectations of a 3.1% rise, the Bureau of Labor Statistics said Thursday.

People shopping during the holiday season at Hudson Yards shopping mall in New York City.

November’s inflation report did not include monthly figures, since the BLS canceled the October inflation report last month as a record-breaking government shutdown prevented the collection of data.

Last week, the Fed slashed interest rates for a third time this year on price pressures – even as it contends with a weakening labor market.

Fed Chairman Jerome Powell warned last week that upcoming economic data “may be distorted” by the shutdown and should be viewed with a “somewhat skeptical eye.”

This is a developing story.