The US Bureau of Economic Analysis (BEA) reported that the US core personal consumption expenditure (PCE) price index rose by a mere 0.1% month-over-month in November, falling short of economists' expectations of a 0.2% increase. The core PCE price index, which excludes volatile food and energy components, is the Federal Reserve's preferred inflation gauge, and its lower-than-expected increase may provide some relief to the central bank as it considers future interest rate hikes. Despite the core PCE's modest increase, overall inflation remains elevated, with the headline PCE price index, including food and energy, rising by 0.1% in November and by 5.5% over the past year. This is well above the Fed's 2% target rate, indicating that the central bank may need to continue its aggressive monetary policy tightening to bring inflation under control.