The data published by the U.S. Bureau of Economic Analysis on Friday revealed that the core Personal Consumption Expenditures price index, the Fed’s preferred gauge of inflation, rose to 1.9% on a yearly basis in November from 1.8 in October and came in line with the market expectation. On a monthly basis, core PCE price index remained steady at 0.1%.
Further details of the report showed that personal income increased by 0.2% on a monthly basis in November to fall short of the analysts’ estimate of 0.3% and personal spending grew 0.4% in the same period vs 0.3% expected.
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