Summary
- The US core PCE price index rose 0.2% m/m in November, matching market expectations.
- The core PCE price index rose 2.8% y/y, in line with forecasts.
- The core PCE price index is the inflation gauge the Fed emphasizes most when assessing monetary policy, and the data indicate inflation is maintaining a moderate trajectory.
According to Walter Bloomberg, an economy news account, on the 22nd (local time), the Bureau of Economic Analysis (BEA) under the US Department of Commerce said the US core personal consumption expenditures (PCE) price index rose 0.2% from the previous month in November 2025. The reading matched market expectations (0.2%).
On a year-over-year basis, it rose 2.8%, also in line with the consensus forecast (2.8%).
The core PCE price index, which excludes volatile energy and food components, is regarded as the inflation gauge the Federal Reserve (Fed) places the most weight on when assessing monetary policy. The latest data suggest inflationary pressures are continuing to ease at a gradual pace.
