Inflation ticked up to 2.8% in Nov. in Fed’s preferred gauge
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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.
The December CPI reading caps a year when many Americans felt squeezed by affordability pressures.
Inflation and the EconomyInflation is one of the most important and frequently discussed economic topics. Economists, policymakers, and the public care about inflation because it leads to the