Fed’s Favorite Inflation Gauge Shows Prices Rose at 3.2 Percent Annual Rate in November, Less than Expected
The U.S. core personal consumption expenditures price index, PCE, rose just 0.1% in November and was up 3.2% from a year ago, both close to expectations.
The U.S. core personal consumption expenditures price index, PCE, rose just 0.1% in November and was up 3.2% from a year ago, both close to expectations. On a six-month basis, core PCE was up 1.9%, below the Fed’s 12-month target. Including food and energy costs, so-called headline PCE actually fell 0.1% on the month and was up just 2.6% from a year ago.
A gauge the Federal Reserve uses for inflation rose slightly in November and edged closer to the central bank’s goal.
The core personal consumption expenditures price index, which excludes volatile food and energy prices, increased 0.1% for the month, and was up 3.2% from a year ago, the Commerce Department reported on Friday, December 22. Economists surveyed by Dow Jones had been expecting respective rises of 0.1% and 3.3%.
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