Inflation, Federal Reserve and Consumer
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The Fed’s preferred inflation gauge, the core PCE price index, rose 2.8% year-over-year in November. This was consistent with the forecast and a slight pickup from October's 2.7% reading. On a monthly basis, the core index was up 0.2%, as expected.
Personal Consumption Expenditures (PCE) index — the Federal Reserve's preferred inflation gauge — rose 2.8% year-over-year and 0.2% month-over-month in November, in-line with economist forecasts published by the US Bureau of Economic Analysis (BEA) on Thursday.