November CPI will be announced soon; behind the missing data, market focus shifts to December inflation.

【Block Rhythm】The U.S. Bureau of Labor Statistics will release the November CPI data on December 18. However, this release is somewhat special due to the previous government shutdown—between October 1 and November 12, data collection was interrupted, resulting in missing complete October CPI and month-over-month data for November, and the sub-item month-over-month data below are also largely unavailable.

In other words, although the November data will be released according to schedule, its reference value is actually limited. Smart money in the market has already started to shift their focus to December’s inflation data, which is the truly important variable to watch.

According to current market consensus, the November CPI year-over-year increase is expected to be 3.1%, with core CPI rising by 3.0% year-over-year. This continues a mild rebound trend that began in mid-year. For the crypto market, inflation data directly influences the Federal Reserve’s monetary policy direction, which in turn affects the pricing logic of all risk assets. Although the November data has flaws, it will still serve as a reference point for investors assessing the economic situation, especially for traders paying attention to dollar policy expectations.