The U.S. consumer price index (CPI) rose 2.7% in November, missing market expectations.

Armored Fresh vegan cube cheese is on display at a large supermarket in the New York area, United States. /Courtesy of Armored Fresh

The Bureau of Labor Statistics (BLS) under the Labor Department said on the 18th that U.S. consumer prices last month rose 2.7% from a year earlier. That was below the market expectation of 3.1% compiled by Dow Jones. This is raising hopes that U.S. monetary policy could become more accommodative.

Core consumer prices, excluding the volatile food and energy categories, rose 2.6% from a year earlier, easing from 3.0% in September.

The release came eight days later than scheduled due to the impact of the 43-day federal government shutdown (temporary work stoppage) from Oct. 1 to Nov. 12. Because data were not collected in October due to the shutdown, the October CPI was not released.

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