Key US Inflation Gauge Cools In November As Rate Cut Looms

The personal consumption expenditures price index slipped 0.1 percent from October to November, in part as energy costs fell (Credit: AFP)

A measure of inflation favored by the US Federal Reserve weakened in November on lower energy prices, government data showed Friday, providing further reassurance to policymakers keen to rein in price increases.

The personal consumption expenditures (PCE) price index rose 2.6 percent from a year ago in November, markedly below October's 2.9 percent figure, the Department of Commerce said.