📊 Summary of the Latest Consumer Price Index (CPI) Report – November 2025

The Consumer Price Index (CPI) is a key measure of inflation in the United States, tracking changes in the prices paid by urban consumers for a broad basket of goods and services. The latest CPI report, covering data through November 2025, provides important insights into recent inflation trends and the underlying economic environment.

Overview of the Latest CPI Data

The CPI for All Urban Consumers (CPI-U) increased by 0.2% on a seasonally adjusted basis over the two months from September to November 2025. Over the past 12 months, the all items index rose by 2.7% before seasonal adjustment. Notably, the Bureau of Labor Statistics (BLS) did not collect survey data for October 2025 due to a lapse in federal appropriations, but most non-survey data was retroactively acquired.

Key Highlights from the Report

  1. Overall Inflation Trends
    • 📈 The all items CPI-U rose 2.7% over the last 12 months.
    • 📉 This is a slight decrease from the 3.0% annual increase reported in September 2025, indicating a modest cooling in inflation.
  2. Core Inflation (All Items Less Food and Energy)
    • 🏠 The core CPI rose 2.6% over the past year.
    • 🏥 Notable contributors to core inflation include shelter (+3.0%), medical care (+2.9%), household furnishings and operations (+4.6%), recreation (+1.8%), and used cars and trucks (+3.6%).
  3. Food Prices
    • 🍎 The food index increased 2.6% over the last year.
    • 🥩 Food at home rose 1.9%, with meats, poultry, fish, and eggs up 4.7%.
    • 🥛 Dairy and related products fell by 1.6%.
    • 🍔 Food away from home increased 3.7%, with full-service meals up 4.3% and limited-service meals up 3.0%.
  4. Energy Prices
    • ⚡ The energy index increased 4.2% over the past 12 months.
    • ⛽ Gasoline prices rose 0.9%, while fuel oil jumped 11.3%.
    • 🔌 Electricity increased 6.9%, and natural gas rose 9.1%.
  5. Monthly and Bi-Monthly Changes
    • 🗓️ From September to November 2025, the all items index increased 0.2% (seasonally adjusted).
    • 🏠 Shelter rose 0.2% over the two months.
    • ⚡ Energy increased 1.1%, and food rose 0.1%.
    • 📱 Other indexes with increases: household furnishings, communication, and personal care.
    • 🎽 Indexes for lodging away from home, recreation, and apparel decreased.
  6. Special Notes
    • 🏥 The BLS removed long-term care insurance from the health insurance index due to market changes.
    • 🏛️ The October 2025 data gap was due to a federal government shutdown, but most non-survey data was recovered.

What Does This Mean for the U.S. Economy?

  • ✅ Inflation is moderating compared to earlier in the year, with the annual rate dropping from 3.0% to 2.7%.
  • ✅ Food and energy prices remain volatile, with energy showing a notable increase, especially in fuel oil and utilities.
  • ✅ Shelter costs continue to be a significant driver of core inflation.
  • ✅ The removal of long-term care insurance from the health insurance index may slightly affect future health-related inflation readings.
  • ✅ The CPI-U and CPI-W both increased 2.7% over the year, while the Chained CPI-U (C-CPI-U) rose 2.6%.

💡 Summary

The November 2025 CPI report shows that inflation in the U.S. is gradually easing, with the annual rate at 2.7%. Food and energy prices are still rising, but at a slower pace than in previous years. Shelter and core services remain key contributors to inflation. The temporary data gap in October due to the government shutdown did not significantly disrupt the overall trend. For consumers and policymakers, these figures suggest that inflation pressures are stabilizing, but certain categories—especially energy and shelter—still warrant close attention.

References:

Consumer Price Index, US Bureau of Labor Statistics

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