Key Takeaways The Consumer Price Index likely rose 3.1% over the year in November, its highest since May 2024.Tariffs have contributed to increased inflation, despite a cooling of price increases for housing.

Here's what economists expect, according to FactSet:

After the Federal Reserve's December rate cut, investor attention is turning to inflation data, where CPI is expected to have risen by roughly 3%.

The PPI inflation report for October is cancelled resulting in an inflation vacuum before the Fed holds its policy meeting this week.

The November jobs report and inflation data, as well as a lineup of Fed speakers, could influence rate-cut outlooks this week.

The Bureau of Labor Statistics won't be publishing a delayed report on wholesale price inflation this month.The federal agency will skip the postponed October report on the Producer Price Index and instead roll those figures into November's report,

The Fed’s preferred inflation gauge edged up mostly in line with economists’ expectations in September, likely paving the way for the Federal Reserve to cut interest rates next week. The core personal consumption expenditures,

Stocks are back on the doorstep of record territory after a volatile month on Wall Street, but persistent inflation worries and souring consumer sentiment are keeping investors uneasy ahead of the Fed’s last policy meeting of the year.

President Trump was handed a well-defined objective: deal with inflation and help the country tackle the cost of living. During an interview with Politico’s Dasha Burns released this week, Trump gave his economy a grade of “A-plus-plus-plus-plus-plus.”

A rise of 3.2% in CPI inflation in the 12 months to November undershoots almost all expectations

The federal government is set to release an unusual jobs report on Tuesday, combining data from two consecutive months due to disruption caused by the 43-day government shutdown. The weeks-delayed report will offer the latest snapshot of the U.S. economy in an uneasy period bedeviled by a hiring slowdown and an uptick of inflation.