economy
January 22, 2026
Fed's main gauge shows inflation at 2.8% in November, edging further away from target
Inflation drifted slightly further from the Federal Reserve's target in November though in line with expectations.
TL;DR
- November inflation was 2.8% headline and core, matching expectations.
- October inflation was 2.7% headline and core.
- Monthly personal consumption expenditures increased by 0.2% in October and November.
- Personal income rose 0.1% in October and 0.3% in November.
- Consumer spending increased by 0.5% in both October and November.
- The personal savings rate was 3.5% in November.
- Goods and services prices each saw 0.2% increases in November.
- Food prices were flat, while energy costs rose 1.9% in November.
- Third-quarter GDP grew 4.4%.
- Jobless claims are trending at a two-year low.
- Markets anticipate the Federal Reserve will maintain interest rates at its next meeting.
- Futures traders expect at most two interest rate reductions this year.
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