Federal Reserve's inflation index slowed in November
 |
| Inflation Index Slowed in November in USA |
The US PCI price index continued to decelerate over the past month, while personal income growth accelerated.
According to data issued today, Friday, December 22, by the Bureau of Economic Analysis, the personal consumption expenditures price index, which is the Fed’s preferred indicator for measuring inflation, rose by about 3.2% on an annual basis, and these levels are lower than recorded in October at 3.4%.
Every month, the index recorded 0.1%, which is the same level recorded in October. The index, which takes into account all items, also slowed to 2.6% in November, after recording 2.9% in October, while it declined 0.1% every month.
In a related context, personal income growth accelerated by 0.4% during the same period, compared to 0.3% in October.
The US Federal Reserve decided to keep interest rates unchanged at this month’s meeting for the third meeting in a row and also hinted that it may reduce interest rates by about 3 times next year.
On the other hand, economic data in America today showed that sales of durable goods increased by 5.4% last month, which represents a shift from a decline of 5.1% in October, and it is also a level that exceeds expectations indicating an increase of 2.4%.