US consumer prices · November 2026

US consumer prices · November 2026 is scheduled for Thursday 11 December 2026 at 08:30 ET. The data covers November 2026. The next release in the series is expected on December 2026 data · January 2027.

Headline CPI: All-items CPI-U: the 12-month rate and the change from October 2026. Core CPI: All items less food and energy — the Fed's primary gauge of underlying inflation pressure. Shelter component: Rent of primary residence and owners' equivalent rent — together around 36% of total CPI. Categories: Food, energy, shelter, transport, medical care and more, each with its own monthly and annual rate. For detailed definitions of each measure, see the IMF inflation methodology.

Start with headline vs core — If headline and core diverge, energy prices are doing the work. The Fed cares more about core; markets often react most to headline. Watch shelter closely — Shelter (rent + OER) is ~36% of CPI and lags market rents by 12–18 months. Shelter disinflation is the key to the last mile of US CPI normalisation. Context: this lands the day before the ECB — A surprise in either direction will move global markets before the ECB's December decision on 12 December. Watch EUR/USD and European bond yields for the cross-market reaction. For a deeper explanation of how consumer price indices are constructed, the IMF's primer on inflation is a reliable starting point.

The official source is Online · bls.gov. Times shown are in ET — see the time-zone table on this page for your local equivalent. The Federal Reserve's economic data page and ECB statistics portal also carry same-day updates.

Going into this release: Headline CPI, Oct 2026 was 3.2% (YoY, BLS); Core CPI, Oct 2026 was 3.1% (Ex-food & energy); Fed funds target was 4.75–5.00% (As of Nov 2026); Real policy rate (est.) was +1.6 pts (Restrictive territory). Historical releases and revisions are archived in the World Bank WDI inflation series.