Dec. 18 (UPI) -- Consumer inflation rose by less than expected in November, according to the Bureau of Labor Statistics monthly report on Thursday.
The Bureau of Labor Statistics reported Thursday a 2.7% annual increase in the consumer price index, or CPI, in November, short of the 3.1% projected by Wall Street.
Core CPI rose 2.6% year over year, below the 3% forecast.
"A tame CPI will reinforce the Fed is focused on protecting the employment market. And that means a Fed 'put' is now in place for the economy," according to Tom Lee, head of research at Fundstrat.
The report is the first to cover the period affected by the U.S. government shutdown, which halted data collection and canceled its October CPI release originally planned for Dec. 10.
