U.S. consumer price inflation slowed more than expected in November, with the latest official data showing a notable drop in the Consumer Price Index (CPI) and core inflation. This key measure strips out food and energy costs, according to an update released Thursday by the Joint Economic Committee (JEC).
The headline Consumer Price Index (CPI-U), a broad measure of prices consumers pay for everyday goods and services, rose only 2.7% from November 2024 to November 2025, below the roughly 3.0% economists had expected. This marks one of the lowest readings in 2025, signaling a potential easing of inflationary pressures.
Core CPI, a measure that excludes volatile food and energy prices, also fell to 2.63% year-over-year, its lowest reading since March 2021.
Between September and November, the headline CPI increased modestly by 0.20%, while core inflation edged up by 0.16% over the same period, indicating that prices rose only slightly in recent months, even after volatility is adjusted for.
The data showed a mixed picture for specific sectors:
Food price inflation was 2.65% year-over-year, a decline of roughly 0.46 percentage points from September.
Energy price inflation rose 4.24% year-over-year, up about 1.39 percentage points from September.
Regionally, the Northeast saw the highest inflation rate between September and November at 3.1%, while the West and Midwest tied at 3.0%. The South recorded the lowest inflation at 2.2%, down from 2.7% in the September report.
In addition to prices, the JEC noted improvements in real wages during the most recent two-month period. Inflation-adjusted earnings for private nonfarm workers showed that weekly earnings rose 0.66% and hourly earnings rose 0.35%, suggesting that wage growth modestly outpaced price gains through November.
In a post to X on Thursday, the White House highlighted the slowed inflation and the pace of wage increases, writing, “President Trump is turning the economy around—pulling it back from the brink & setting the stage for a HISTORIC BOOM.”
President Trump is turning the economy around—pulling it back from the brink & setting the stage for a HISTORIC BOOM.
✅ Bringing high prices down ✅ Wages rising faster than inflation ✅ 100% of new jobs to American-born workers ✅ Gas prices ⬇️
Economists have cautioned that some of the recent inflation slowdown reflected in official figures may be affected by data collection challenges earlier this year. Independent reporting highlights that federal data gathering was disrupted by a prolonged government shutdown, which prevented the Bureau of Labor Statistics from compiling October CPI data and may have altered how price changes were measured, according to Reuters.
Nonetheless, both headline and core measures show inflation moving closer to longer-term targets, a development policymakers and markets will be watching closely as the Federal Reserve, Congress, and Trump Administration consider their next steps in 2026.
Arizona Senate Republicans released their 2026 Majority Plan on Monday, outlining policy priorities aimed at reducing the cost of living, strengthening public safety, supporting economic growth, and increasing oversight of state government.
The plan follows several years of divided government at the Capitol and builds on what Republicans describe as recent legislative accomplishments, including balanced budgets and multiple tax cuts passed without raising overall taxes. Caucus leaders say the 2026 agenda is intended to address challenges facing Arizona families, particularly rising housing costs, inflation, and concerns about government accountability.
“Arizonans want affordable living, safe neighborhoods, and a government that strengthens — not weakens — our economy,” Senate President Warren Petersen said in a statement. “While the Governor’s vetoes stall progress, Senate Republicans remain focused on protecting taxpayers, upholding Arizona’s freedoms, and preventing the radical left from turning our state into California.”
A central component of the plan is a proposed tax and budget framework aimed at providing relief from rising prices. Senate Republicans say they are pursuing reductions in state taxes on tips and overtime, expanded deductions for seniors, and policies to support small businesses. Caucus leaders estimate the proposals would return more than $1 billion to taxpayers over three years while pairing tax relief with restrained government spending.
Housing affordability is another major focus. The plan cites regulatory barriers, slow permitting processes, and executive-level actions as factors contributing to Arizona’s housing shortage. Republicans say they support reforms to speed up construction, reduce fees, and limit local restrictions on new housing, while aligning development decisions with water availability data.
“Arizonans can’t afford policies that stall development, inflate housing prices, or jeopardize our water security,” Senate President Pro Tempore T.J. Shope said. “Senate Republicans are advancing practical, data-driven solutions that support responsible growth and keep Arizona livable for the next generation.”
Water policy is addressed alongside housing, particularly as negotiations over the Colorado River continue. The plan emphasizes the Legislature’s statutory role in those talks and calls for shared conservation efforts among basin states to avoid placing disproportionate burdens on Arizona.
Public safety proposals include addressing staffing shortages in correctional facilities, increasing oversight of state agencies, and strengthening accountability for violent offenders and probation violators. The plan also reiterates support for Second Amendment protections and public safety pension stability.
Senate Majority Leader John Kavanagh criticized the current administration’s record, saying, “Arizonans deserve leadership that solves problems, not a wolf in sheep’s clothing who blocks solutions and hopes voters won’t notice.”
Additional priorities outlined in the plan include border security enforcement, election integrity measures, education policy, transportation and infrastructure investment, emergency preparedness, artificial intelligence safeguards, family court reform, veterans’ services, and oversight of agencies such as AHCCCS and the Department of Child Safety. Opening day of the second regular session of the 57th Legislature is scheduled for January 12, when many of the proposals are expected to be introduced.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
According to a new report from the Common Sense Institute (CSI), inflation in the Phoenix metro area rose 1.4% year-over-year in August, as measured by the Consumer Price Index (CPI). The increase marks a climb from June’s 0.8% reading and ends a four-month stretch where local inflation hovered below 1%.
As noted by the report, the uptick comes as Arizona’s economy shows signs of slowing, with weaker job growth and a cooling housing market. Still, compared with much of the nation, inflation in Phoenix remains subdued. Among the 23 metro areas tracked monthly, Phoenix ranked 20th in year-over-year price growth, continuing a dramatic reversal from 2022 and 2023, when the region routinely topped the list for fastest-rising prices.
Nationally, inflation picked up in August, rising 2.9% from a year earlier after holding steady at 2.7% in the prior two months. Prices across the country have now exceeded the Federal Reserve’s 2% target for more than two years.
Since August 2019, consumer prices in Phoenix have climbed 30.2%, adding about $1,525 in monthly costs for the average Arizona household. Nationally, prices are up 26.3% over the same period. Typically, inflation would run closer to 10% in a five-year span. On a two-month basis, Phoenix saw a 0.9% increase from June to August, tying January for the largest short-term jump of the year. Nationally, prices rose 0.6% over that period.
Housing costs remain a key driver of Phoenix’s relatively low inflation reading. Shelter prices fell 0.1% year-over-year in August, the fourth consecutive month of negative growth. Excluding shelter, inflation in the Valley was 2.3%—still below the national average, but nearly double the headline local figure. The Federal Reserve, which aims to balance price stability with job growth, faces a complicated outlook. While local inflation has hovered below target for nearly a year, national prices have not fallen under 2.3% since 2021.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
It was Biden’s biggest “accomplishment.” The so-called Inflation Reduction Act, which he later admitted had nothing to do with inflation (it actually did, just not in the direction the name suggested) but was really about dumping billions (really trillions) into subsidizing the green new scam. It was the biggest acceleration towards the “Net Zero” climate scam resulting in utilities across the country, especially here in Arizona, spamming the grid with unreliable energy generation such as solar, wind, and battery storage, driving up rates for utility customers while shattering reliability.
What finally made it through Congress and was signed into law on July 4th terminated tax credits for electric vehicles, “energy efficient” home improvements, and residential solar this year. As for the much larger credits, those subsidizing grid scale solar and wind farms, it’s much more complicated.
The Environmental Protection Agency officially proposed to terminate what President Trump has long called the “climate hoax.” If successful, the federal government will be out of the climate regulation business with no hope of returning to it without congressional authorization.
The Trump EPA proposed to rescind a 2009 Obama EPA rule called the “endangerment finding.” In that rulemaking, the Obama EPA determined that emissions of greenhouse gases threatened human health and welfare by causing global warming. Simultaneously with the EPA proposal, the Trump Department of Energy issued a scientific report summarizing why emissions are actually a good thing and threaten nothing.
The scientific findings, however, are superfluous since EPA never had express authority from Congress to regulate greenhouse gases under the Clean Air Act in the first place. Controversy and litigation about EPA’s authority to regulate greenhouse gases resulted in the 2007 Supreme Court decision in Massachusetts v. EPA. In that case, the Court determined in a 5-4 holding that EPA could, but did not have to, regulate emissions.
But the decision was controversial. Clean Air Act co-author and famed Democrat Congressman, the late John Dingell, afterwards stated: “I think the Supreme Court came up with a very much erroneous decision on whether the Clean Air Act covers greenhouse gases. I was present when we wrote that legislation and we thought it was clear enough that it did not, and we didn’t clarify it thinking that even the Supreme Court was not stupid enough to make that finding.”
Following the decision, the Bush EPA decided that it would not regulate emissions. When the Obama administration came into power in 2009, it reversed the Bush EPA’s decision and began using the endangerment finding as the basis for regulation of smokestack and tailpipe emissions of greenhouse gases.
Although many questioned the scientific basis of the Obama EPA’s decision, it was impossible to get a judicial hearing on the science. Federal judges informally decided decades ago that they would defer to regulatory agency decisions on questions of science.
With the endangerment finding apparently firmly in place, the Obama administration, and later the Biden administration, proceeded to regulate tailpipe and power plant emissions of greenhouse gases.
Cracks in the ability of EPA to use the endangerment finding soon began to appear. In 2014, the Supreme Court determined that the Clean Air Act did not authorize EPA to use the endangerment finding to regulate emissions of greenhouse gases from industrial smokestacks. In 2022, the Supreme Court in West Virginia v. EPA nullified an effort to regulate emission from power plants, holding that EPA could not launch major regulatory programs without express congressional authorization.
Today, all that remains of EPA’s endangerment finding-based rules are tailpipe regulations in the form of the Biden EPA’s de facto EV mandate, a rule that the Trump administration is in the process of reversing.
Since the Obama EPA made the endangerment finding, electricity prices have soared. Gas prices and inflation soared during the Biden administration. Tens of thousands of high-paying coal miner jobs have been destroyed and their communities devastated.
Our electricity grid has been made less reliable by the advent of existentially subsidized wind and solar power. Periods of peak electricity demand like summer heat waves and winter cold spells now routinely result in blackout/brownout warnings. This problem will get worse before it gets better with the ongoing electricity demand from AI data centers and the re-industrialization of America.
Blue states and their climate activist allies will no doubt sue the Trump EPA to stop the rescission of the endangerment finding. But all this will accomplish is the Supreme Court almost certainly reversing its original sin committed in Massachusetts v. EPA. Some of us can’t wait.
Steve Milloy is a contributor to The Daily Caller News Foundation, a biostatistician, and lawyer, who publishes JunkScience.com and is on X @JunkScience.
