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Warm the milk in a small saucepan over medium heat until steaming, but not boiling. Whisk in the cocoa powder, pumpkin purée, sugar, pumpkin pie spice, vanilla, and salt until smooth and well combined.
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Related Recipe: The Best Gingerbread Hot Chocolate for the Holidays
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Continue to heat for a few minutes, whisking often, until hot and frothy. Taste and adjust sweetness or spice as needed.
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Pour into mugs, top with whipped cream, and sprinkle with a little extra pumpkin pie spice.