Fed's main gauge shows inflation at 2.8% in November, edging further away from target [View all]

Source: CNBC

Published Thu, Jan 22 2026 10:20 AM EST Updated 10 Min Ago


Inflation drifted slightly further from the Federal Reserve’s target in November though in line with expectations, according to the central bank’s preferred gauge released Thursday.

The personal consumption expenditures price index, a Commerce Department measure the central bank uses as its main forecasting tool, showed inflation at 2.8% for the month both for headline and core, in line with the Dow Jones consensus.

In addition, the department’s Bureau of Economic Analysis reported that the rate for October was 2.7% on both a headline and core basis, the latter excluding volatile food and energy prices.

The monthly figures showed a 0.2% increase for both months. The BEA released the October and November numbers together due to impacts from the government shutdown during which official agencies suspended data collection and reports.

Read more: https://www.cnbc.com/2026/01/22/pce-inflation-november-2026.html