US Fed’s preferred inflation yardstick edges higher by 2.4% in November, stays within Wall Street estimates
3 days, 11 hours ago

US Fed’s preferred inflation yardstick edges higher by 2.4% in November, stays within Wall Street estimates

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The US Federal Reserve's preferred inflation measure rose for a second straight month in November by 2.4 per cent, yet stayed within Wall Street estimates. The US Commerce Department's data showed on Friday that the personal consumption expenditures price index rose 2.4 per cent year-on-year in the 12 months to November, up from 2.3 per cent in October. At 2.4 per cent, the annual inflation figure is still above the US Fed’s two per cent inflation target. US Fed December policy verdict On Wednesday, the US Federal Reserve cut the benchmark interest rates by a quarter point to between 4.25 and 4.5 per cent, and forecast only two rate reductions in 2025, in a nod to the economy's continued resilience and still-high inflation.

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