Consumer prices rose 2.7% in November compared to a year earlier, marking a notable reduction from 3% year-over-year inflation in September, the most recent month for which complete data is available. Inflation stands at its lowest level since July.

Harvard economist calls the latest inflation report "positive news" as the rate falls to 2.7%, surprising analysts who expected it to stay above 3%.

Millions of Americans braced for runaway inflation in response to President Trump's aggressive import tariffs. They're still waiting.

The Bureau of Labor Statistics released the November consumer price index which showed that CPI inflation remained well above the Federal Reserve's 2% target rate.

After a gap in official data, prices rose at a 2.7 percent annual pace last month, according to new data from the Labor Department.

Inflation, which measures the rate of price increases over time, remains above the Bank of England's 2% target.

White House economic advisor Kevin Hassett, who is on a shortlist to potentially become Federal Reserve leader, said on Fox Business Friday that President Donald Trump is right when he says inflation is low,

Inflation was lower than expected in November, the BLS reported yesterday, in the first official inflation release since October following the extended government shutdown earlier this fall.