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The Federal Reserve reduced its key interest rate for the third time in a row Dec. 10 but signaled that it may leave rates unchanged in the coming months.

The data shows that inflation was muted in September and will bolster the case for a cut to the Fed’s key interest rate at its next meeting Dec. 9-10.

U.S. consumers were much less confident in the economy in November in the aftermath of the government shutdown, weak hiring and stubborn inflation.

The figures show that inflation continues to rise more slowly than many economists expected when President Donald Trump imposed sweeping tariffs in April.

It’s the first time since a government shutdown in 2013 that the jobs report has been delayed.

The central bank’s focus has shifted quickly from inflation to jobs, as hiring has grounded nearly to a halt in recent months and unemployment has ticked higher.

The reading is the last data the Federal Reserve will receive before its key meeting next week, when policymakers are widely expected to cut their short-term rate to about 4.1% from 4.3%.

Prices rose 2.6% in June compared with a year ago, the Commerce Department said July 31, up from an annual pace of 2.4% in May.

Chair Jerome Powell has said the Fed would likely have cut rates already if not for President Donald Trump’s sweeping tariffs.

Inflation rose last month to its highest level in four months as the cost of gas, food and groceries rose, reversing several months of cooling price pressures.