Fed's Favored Inflation Gauge Rises Again In November

The US Fed's favored measure of inflation came in slightly higher than expected last month (Credit: AFP)

The Federal Reserve's preferred inflation measure rose for a second straight month in November, according to government data published Friday, although the increase came in a touch below expectations.

The personal consumption expenditures (PCE) price index rose 2.4 percent in the 12 months to November, up from 2.3 percent in October, the Commerce Department said in a statement.