November CPI Report: Inflation Increased 2.7% Year-over-Year

The Consumer Price Index (CPI) increased at an annual rate of 2.7% in November, lower than the expected 3%, suggesting easing price pressures. Core inflation rose by 2.6%, also below forecasts. Food prices saw a minor rise of 2.6%, with notable increases in specific items like coffee and ground beef. Economic experts indicate that while inflation may decrease next year, Americans could still face ongoing affordability challenges due to stagnant income growth.