Consumer prices rose 2.7% in November compared to a year earlier, marking a notable reduction from 3% year-over-year inflation in September, the most recent month for which complete data is available. Inflation stands at its lowest level since July.

Inflation unexpectedly – and sharply – slowed in November, a seemingly welcome change for Americans weighed down by the persistently high cost of living.

This is a wacky number,” Diane Swonk, chief economist at KPMG, told Fortune. “Shelter costs basically flatlined October by carrying forward September. When housing is that large a component, that really matters.

Thursday's release of November's CPI data showed inflation had unexpectedly eased to an annual rise of 2.7% that month, but economists expressed caution as the government shutdown impacted results.

Inflation in November fell to 2.7%, the Bureau of Labor Statistics said Thursday, a positive sign for consumers on its face. However, November’s data was collected later than normal. The released figures may include significant holiday discounting,

The highly anticipated November inflation report showed prices appearing to grow at a far slower rate, surprising analysts and markets after a year of stubbornly rising costs. The consumer price

Market frustration with the November Consumer Price Index is not about how low inflation printed. It’s about whether the number can be trusted at all. The report showed that annual CPI inflation slowed to 2.

Donald Trump was feeling vindicated on Thursday after November’s inflation data came in cooler than expected, bolstering his claim of progress in curbing prices, his thorniest political liability.