Taken at face value (which several analysts have said you shouldn't do given the reliance on imputations, linear interpolations, and other adjustments due to the absence of October price surveys) the November CPI shows: *Core prices up just 2.6% for the 12 months ended November, which would be the lowest for the post-pandemic-inflation period (since 3/2021) *Core prices up 2.6% at a six-month annualized rate, the lowest since July *Core prices up 1.6% at a three-month annualized rate, the lowest since 2/2021. Moving just to core *goods* shows that prices at a six-month annualized rate rose 1.9% (before the pandemic, this was closer to 0%), which was the highest reading since mid-2023.