The annual rate of growth by consumer prices has unexpectedly slowed, according to data released by the Labor Department on Thursday.
The Labor Department said consumer prices in November were up by 2.7 percent compared to the same month a year ago.
The year-over-year price growth in November reflects a notable slowdown from the 3.0 percent surge in September.
The annual rate of growth by core consumer prices, which exclude food and energy prices, also slowed to 2.6 percent in November from 3.0 percent in September.
The Labor Department noted that survey data for October 2025 was not collected due to the government shutdown.
The report also said the Labor Department's consumer price index rose by 0.2 percent over the two months from September to November.
Excluding food and energy prices, the core consumer price index also edged up by 0.2 percent over the same two-month period.
Energy prices jumped by 1.1 percent over the two months from September to November, while prices for shelter increased by 0.2 percent and prices for food crept up by 0.1 percent, the Labor Department said.
The report said prices for household furnishings and operations, communication, and personal care also rose over the same two-month period, while prices for lodging away from home, recreation, and apparel decreased.