economy

January 22, 2026

Inflation ticked up to 2.8% in November in Fed’s preferred gauge

Inflation rose one-tenth of a percentage point to 2.8% for the year ending in November 2025, the Bureau of Labor Statistics reported Thursday in an update to the personal consumption expenditures index, which is the Federal Reserve’s preferred inflation gauge.

Inflation ticked up to 2.8% in November in Fed’s preferred gauge

TL;DR

  • Inflation rose to 2.8% year-over-year in November, according to the personal consumption expenditures index.
  • This inflation gauge is the Federal Reserve's preferred metric.
  • Core inflation also remained at 2.8% annually in November.
  • Both headline and core inflation metrics are above the Fed's 2% target.
  • The report is the last inflation data the Fed will see before its upcoming interest rate vote.
  • The Fed has been gradually lowering interest rates but may pause further cuts due to persistent inflation and labor market resilience.
  • President Donald Trump has been critical of the Fed, advocating for more aggressive interest rate cuts.
  • High prices and cost of living remain significant concerns for voters, impacting President Trump's approval ratings and the Republican Party's political prospects.
  • Job growth in December was 50,000, with the unemployment rate falling to 4.4%, though revisions show a negative three-month moving average for job gains.
  • Rep. Brendan Boyle (D-PA) criticized the Trump administration's economic policies for contributing to high prices.

Continue reading the original article

Made withNostr