Inflation unexpectedly fell in November, providing relief to U.S. consumers and supporting President Trump’s contention that the inflation crisis that began during his predecessor’s administration has been overcome.
The consumer price index rose 2.7 percent from a year ago, the Department of Labor said, down from three percent in September and below the 3.1 percent forecast by economists. The report was delayed by the shutdown of the federal government that stretched from early October through mid-November.
“Very simple, we are making America great again tonight,” Trump said in a prime-time speech to the nation Wednesday night. “After 11 months, our border is secure. Inflation is stopped. Wages are up. Prices are down.”