By Alicia Wallace, CNN

(CNN) — Inflation unexpectedly slowed in November, a welcome change for Americans weighed down by the persistently high cost of living.

The Consumer Price Index measured 2.7% from a year earlier, after hitting 3% in September, according to Bureau of Labor Statistics data released Thursday. It’s the lowest rate since July.

The October number was not calculated, after the government shutdown hampered statistical agencies’ ability to process economic data.

On a two-month basis, consumer prices rose 0.2% from September to November, resulting in an average rate of 0.1%. In September, prices rose 0.3% on a monthly basis.

Economists were expecting prices to climb at a 0.3% monthly rate in November, leaving the annual rate of inflation unchanged at 3%, according to FactSet consensus estimates.

Thursday’s report showed that a closely watched measure of underlying inflation cooled as well.

Excluding food and energy, categories where prices tend to be quite volatile, the core CPI index rose 0.2% from September to November (0.1% averaged on a monthly basis), slowing the annual rate sharply to 2.6% from 3% in September.

This story is developing and will be updated.

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