Fed's main gauge shows inflation at 2.8% in November, edging further away from target

Inflation Data - Inflation for November was reported at 2.8% for both headline and core measures, aligning with Dow Jones consensus expectations [2] - The October inflation rate was recorded at 2.7% for both headline and core, with core inflation excluding food and energy prices [2] - Both months showed a 0.2% increase in inflation, with the October and November figures released together due to a government shutdown affecting data collection [3] Personal Income and Consumption - Personal income increased by 0.1% in October and 0.3% in November, with the November figure falling 0.1 percentage point short of forecasts [4] - Personal consumption expenditures, which serve as a proxy for consumer spending, rose by 0.5% in both October and November, matching the November forecast [4]