The US PCE price index rose 2.8% y-o-y in November, as expected, after +2.8% in October. Month-on-month basis, it came in at +0.2%, as expected, after +0.3% in October. In its "core" version, i.e. excluding food and energy, it increased 2.8% y-o-y, in line with forecasts, after a 2.8% rise in October. This latest inflation reading is closely watched by the Fed.