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Federal Reserve Chair Jerome Powell said last week that the central bank would look at this latest report with a “skeptical eye" because of possible distortions.
The long-awaited consumer price index report is the first inflation data in two months. | George Walker IV/AP
Inflation cooled to an annual rate of 2.7 percent in November, the lowest rise in prices since July, in a boost for President Donald Trump as he aims to make his case to voters struggling with the high cost of living.
The report from the Labor Department shows that prices on many goods rose more slowly than expected, an encouraging sign that tariffs still aren’t causing significant spikes, though the data also covers the period that includes Black Friday discounts.
