At a time when Americans are frustrated and angry over the high cost of living, the government released a report Thursday showing that inflation had cooled unexpectedly in November.

The Labor Department reported Thursday that its consumer price index rose 2.7% in November from a year earlier. Yet, year-over-year inflation remains well above the Federal Reserve’s 2% target. Americans, dismayed by high prices, handed big victories to Democrats in local and state elections last month.

The inflation report was delayed eight days by the shutdown, which also prevented the Labor Department from compiling overall numbers for consumer prices and core inflation in October and disrupted the usual data-collecting process. Thursday’s report gave investors, businesses and policymakers their first look at CPI since the September numbers were released on Oct. 24.

Consumer prices had risen 3% in September from a year earlier, and forecasters had expected the November CPI to match that year-over-year increase.

Mortgage rates near low for year

The average rate on a 30-year U.S. mortgage edged lower this week, staying relatively close to its low for the year.

The decline brings the average long-term mortgage rate to 6.21% from 6.22% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.72%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell this week. The rate averaged 5.47%, down from 5.54% last week. A year ago, it averaged 5.92%, Freddie Mac said.

Mortgage rates began easing in July in anticipation of a series of Fed rate cuts, which began in September and continued this month.