PCE inflation November 2023:
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 Friday.
Economists surveyed by Dow Jones had been expecting respective increases of 0.1% and 3.3% respectively.
Elsewhere in the report, consumer expenditures in November increased 0.3% while income rose 0.4%, numbers that were in line with expectations and indicative that spending was continuing apace despite ongoing inflation pressures.
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