(Alliance News) - A key US inflationary reading fell year-on-year in December, figures on Friday showed, continuing its downward trend.
According to the US Bureau of Economic Analysis, the core personal consumption expenditures index, which excludes food and energy, increased by 4.4% in December, slowing from 4.7% in November.
Core PCE is the Federal Reserve's preferred inflationary gauge.
The wider personal consumption expenditures index increased by 5.0%, slowing from 5.5% the previous month.
On a monthly basis, headline PCE increased 0.1%, unchanged from November. Core PCE increased 0.3%, quickening from 0.2% in November.
By Heather Rydings, Alliance News senior economics reporter
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