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Core CPI rose 2.6% in November, below 3.0% estimate
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November headline CPI rose 2.7% y/y, below 3.1% estimate while core CPI rose 2.6%, below 3.0% estimate.
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Nasdaq 100 futures up 0.9% while S&P 500 futures rose 0.5% following the report.
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There are no month-over-month changes since the October numbers were never released due to the government shutdown.
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BLS said the core CPI rose 0.2% over the two months ended November, 2025 and that CPI data collection resumed on November 14, 2025.
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Reuters notes economists think the surprise was partly technical because data collection was delayed late into the month, when holiday discounts were more prevalent.
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Supercore services inflation gauge rose 2.7% y/y in November, the lowest reading since 2021.
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Fed Chair Powell said last week the CPI data may be distorted due to the government shutdown which ended in November 12.
