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Inflation rises as expected in November: PCE data

JANUARY 23, 2026

Personal Consumption Expenditures (PCE) index — the Federal Reserve's preferred inflation gauge — rose 2.8% year-over-year and 0.2% month-over-month in November, in-line with economist forecasts published by the US Bureau of Economic Analysis (BEA) on Thursday. This data was delayed due to the US government shutdown in late 2025.

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