US Annual Core PCE Inflation Rises to 4.7% in November

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, rose to 4.7% YoY in November, the US Bureau of Economic Analysis reported on Thursday. That was above the consensus forecast for an inflation rate of 4.5% and marked a substantial acceleration from October’s inflation rate of 4.1%. the Core PCE Price Index rose at a pace of 0.5% versus expectations for a 0.4% MoM growth rate and following October’s 0.4% reading.