Data from the USA Bureau of Economic Analysis shows that the Federal Reserve's preferred inflation indicator, the Personal Consumption Expenditures (PCE) price index, increased by 0.1% month-on-month in November this year, lower than the 0.2% seen in the previous two months and also below the market expectation of 0.2%. Commodity prices rose by less than 0.1%, while service prices increased by 0.2%.

Excluding the more volatile food and Energy prices, the core PCE index rose by 0.1% month-on-month, reaching its lowest level in six months, while the increases in October and September were 0.3%, which were also below the market forecast of 0.2%. Food prices rose by 0.2%, and Energy prices also increased by 0.2%.

On a year-on-year basis, the overall PCE inflation rate accelerated for the second consecutive month, rising from 2.3% to 2.4%, but lower than the expected 2.5%. The core PCE inflation unexpectedly stabilized at 2.8%, while the market expectation was a rise to 2.9%.