Fed’s primary indicator reveals inflation reached 2.8% in November, moving even further from the target

Inflation Remains Steady in November, Matching Federal Reserve Expectations

Inflation edged a bit further from the Federal Reserve’s target in November, but remained consistent with forecasts, according to data released Thursday. The personal consumption expenditures (PCE) price index, which the Fed relies on for its economic outlook, registered a 2.8% increase for both overall and core inflation last month, aligning with the consensus projected by Dow Jones. The Bureau of Economic Analysis also noted that October’s inflation rate stood at 2.7% for both headline and core figures, with the core measure excluding the more unpredictable food and energy sectors.