CNN —
The Federal Reserve’s preferred inflation gauge moved slightly higher in November — but not as much as economists were expecting, an indication that price hikes aren’t accelerating in a worrisome fashion.
Still, cost of living concerns are growing as 2025 approaches and uncertainty widens about potential inflationary global events and domestic policies.
The Personal Consumption Expenditures price index rose 2.4% in November from the year before, heating up from the 2.3% increase notched in October, according to new Commerce Department data released Friday.
On a monthly basis, prices rose just
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