November consumer prices rose at a 2.7% annual rate, lower than expected, delayed data shows

Consumer prices rose less than expected in November, giving investors hope that inflationary pressures may be cooling enough for U.S. monetary policy to be eased more than Wall Street anticipates.

The consumer price index rose at a 2.7% annualized rate last month, a delayed report from the Bureau of Labor Statistics showed. Economists polled by Dow Jones expected the CPI to have risen 3.1%.

The core CPI, which strips out volatile food and energy prices, was also cooler than anticipated, increasing 2.6% over 12 months. It was expected to have risen by 3%.