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Fed's favorite inflation gauge rises to 1.5% in November

Core personal consumption expenditure inflation, the Fed's favored measured of inflation, increased to 1.5% in November, compared with 1.4% a month ago, the Bureau of Economic Analysis said.

In monthly terms, PCE inflation excluding food and energy, slipped to 0.1% from 0.2% in October.

The headline measure of PCE inflation rose to 1.8% in November from 1.6% a month earlier, and, in monthly terms, rose to 0.2% from 0.1%.

Real personal consumption expenditures in November were up $49.1 billion, reflecting a $22.3 billion increase in spending for goods and $27.6 billion increase in spending for services, the bureau said.

Personal income, measured in current dollar terms, rose 0.3% in November following a 0.4% increase in the preceding month, reflecting gains in wages and salaries and personal interest income.