A new report on inflation released Thursday showed it falling well below experts’ predictions.
The consumer price index for November showed annual inflation of 2.7 percent, according to The Wall Street Journal.
September’s figure was 3 percent. Due to the government shutdown, there was no report for October.
Economists The Wall Street Journal previously questioned predicted a higher 3.1 percent rate.
The core inflation rate of 2.6 percent was also lower than expected, and was the lowest since early 2021, the Journal reported. Core inflation excludes food and fuel prices, which are more volatile.
Adding to the positive news was a report from CNBC that initial claims for unemployment dropped to 224,000 for the week ending Dec. 13, down from 237,000 the week before.
That number beat predictions the number would be around 225,000.
The positive news sent stock futures rising, with futures linked to the Dow Jones average up 188 points.
“I was surprised. It was a better number than anyone was expecting,” says Harvard Professor of Economics Ken Rogoff on November inflation coming in WAY BELOW expectations.
“It was positive news — there’s no other way to spin it.” pic.twitter.com/ZtAIBek5z3
— Rapid Response 47 (@RapidResponse47) December 18, 2025
“I was surprised. It was a better number than anyone was expecting,” Harvard Professor of Economics Ken Rogoff said in a video posted to X.
“People were expecting it to be above three percent. It was well below three percent. I think the president will take this as good news,” he said.
“It was a positive news — there’s no other way to spin it.”
.@StephenMoore on the November CPI report: “AMAZING!… This is good news for Wall Street, it’s good news for Main Street… I got a big smile on my face right before Christmas with this number.” pic.twitter.com/Lr2l6cPLwz
— Rapid Response 47 (@RapidResponse47) December 18, 2025
Economist Stephen Moore called the inflation number “amazing.”
“This is good news for Wall Street, it’s good news for Main Street. It’s good news for the Federal Reserve board,” he said, suggesting the figure could lead to an interest rate cut.
“I got a big smile on my face right before Christmas with this number.”
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