The personal consumption expenditures price index, the Fed’s preferred inflation gauge, showed an increase of just 0.1% from October. The measure indicated a 2.4% inflation rate on an annual basis, still ahead of the Fed’s 2% goal, but lower than the 2.5% estimate from Dow Jones. The monthly reading also was 0.1 percentage point below the forecast. Excluding food and energy, core PCE also increased 0.1% monthly and was 2.8% higher from a year ago, with both readings also being 0.1 percentage point below the forecast. The annual core inflation reading was the same as in October while the headline rate rose 0.1 percentage point.

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Persons: Dow Jones, ”, Chris Larkin, Trade Morgan Stanley, “, Jerome Powell, Powell, ” Powell Organizations: Federal, Commerce Department, Dow, Stock, Trade