Inflation rose modestly in recent months, with the Consumer Price Index for All Urban Consumers (CPI-U) increasing 0.2% on a seasonally adjusted basis from September to November 2025.
Prices were up 2.7% over the past year, marking a slowdown from the 3.0% annual increase recorded through September.
Data gaps remain because of the federal shutdown, as the Bureau of Labor Statistics (BLS) did not collect survey data in October 2025 due to a lapse in appropriations.
U.S. inflation showed signs of cooling in late 2025, even as energy costs and some household expenses continued to rise, according to the latest Consumer Price Index report from the Bureau of Labor Statistics.
Over the two-month period from September to November, overall consumer prices increased at a measured pace, reflecting modest gains across several major categories. Core inflation, which excludes volatile food and energy prices, also rose 0.2% during the same period, suggesting underlying price pressures remained contained.
Shelter costs, a major driver of household expenses, edged up 0.2% over the two months, while food prices rose 0.1%. Energy prices were a notable outlier, climbing 1.1% during the period, driven by higher gasoline and utility costs. At the same time, some categories provided relief for consumers: prices for lodging away from home, recreation, and apparel declined.
Looking at the broader picture, inflation slowed on an annual basis. The all-items CPI rose 2.7% in the 12 months ending in November, down from a 3.0% increase through September. Core inflation increased 2.6% over the past year, slightly below the headline rate.
Restaurant checks rose faster than grocery bills
Food prices continued to rise faster when consumers ate out than when they shopped for groceries. Food away from home increased 3.7% over the year, compared with a 1.9% rise for food at home. Within grocery prices, meats, poultry, fish, and eggs posted one of the largest gains, up 4.7%, while dairy prices declined 1.6%.
Energy costs remained a key pressure point for households. Over the past year, the energy index rose 4.2%, with fuel oil prices jumping more than 11% and electricity costs climbing nearly 7%. Natural gas prices also rose sharply, increasing just over 9% year over year.
The report was affected by the federal government shutdown in October, when BLS was unable to collect survey data. While some non-survey data were later recovered, October CPI figures are unavailable, and November data reflect a partial resumption of collection that began on November 14.
Separate inflation measures tracked similar trends. The CPI for Urban Wage Earners and Clerical Workers rose 2.7% over the past year, while the Chained CPI increased 2.6%, though recent figures for the chained index remain subject to revision.