Inflation unexpectedly – and sharply – slowed in November, a seemingly welcome change for Americans weighed down by the persistently high cost of living.

The core index, stripping out often volatile food and energy costs, rose by 2.6% from a year ago, also beating estimates.

The consumer price index increased 2.7%, short of the forecast and September's 3% rise.

• The September CPI inflation report showed that prices rose at a slower-than-expected rate of 0.3% last month, but annual price hikes for a range of consumer goods rose at the fastest pace so far ...

KPMG UK has recently shared key insights on the latest labour market data along with other commentary on recent developments.