by John Carney
Breitbart.com
The Federal Reserve’s preferred measure of inflation ticked up less than expected in November, offering a glimmer of relief amid persistent price pressures that have cast doubt on the central bank’s recent interest rate cuts.
The Personal Consumption Expenditures (PCE) price index rose just 0.1 percent last month, the Commerce Department reported on Friday. That figure came in below economists’ projections of a 0.2 percent increase, suggesting a potential pause in what had been a gradual upward trajectory.
Despite the monthly slowdown, the year-over-year inflation rate edged higher, climbing to 2.4 percent from 2.3 percent in October. The increase moves inflation further from the Fed’s two percent target, underscoring the central bank’s challenge as it navigates a complex economic landscape.