Fed’s Favorite Inflation Gauge Shows Prices Rising Again
January 26, 2024
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A key measure of inflation in the U.S. showed that prices climbed again in December, suggesting the respite from rising prices seen in the prior month was short-lived.
The personal consumption expenditure price index rose 0.2 percent compared with the prior month, in line with expectations and an increase from the negative 0.1 percent reading for November. This is the biggest month-to-month increase in the PCE price index since September.