The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, showed a 0.1% increase in November. Year-over-year, it rose by 2.8%. The report indicated some progress in controlling inflation after recent stagnation, with core goods prices falling for the first time in three months. The data supports the Fed’s outlook for potential interest rate cuts in 2025, though it remains cautious with a projected two quarter-point reductions. Consumer spending remained resilient, growing by 0.3%, bolstered by healthy wage growth and holiday shopping.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Core Personal Consumption Expenditures Price Index, the Federal Reserve's preferred
00:06inflation measure, showed a 0.1% increase in November. Year-over-year, it rose by 2.8%.
00:12The report indicated some progress in controlling inflation after recent stagnation,
00:16with core goods prices falling for the first time in three months.
00:20The data supports the Fed's outlook for potential interest rate cuts
00:23in 2025, though it remains cautious of the projected two-quarter point reductions.
00:28Consumer spending remained resilient,
00:30growing by 0.3%, bolstered by healthy wage growth and holiday shopping.