U.S. inflation cooled sharply in November, but the 2.7 percent reading is not considered official after a government shutdown forced changes in how the CPI was calculated.
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U.S. Inflation Rises 2.9% in August: Food and Gas Prices Lead the Surge
The August inflation data overlaps with President Trump’s latest round of tariffs on major U.S. trading partners. But while the direct impact is up for debate, beef’s surge suggests tariffs may already be filtering into consumer prices.