Service costs slowed in November, serving to to gradual the general tempo of inflation.
This subset of indices drove worth progress in 2024, as wage progress continued at a wholesome tempo. Housing-related prices are additionally categorized as providers and have been a specific supply of upward strain on inflation.
Costs for providers within the private consumption expenditures index, or PCE, rose 0.2% in November, whereas costs for items rose lower than 0.1%, based on knowledge launched Friday. This was sufficient to comprise the rise within the general PCE worth index to 0.1%.
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