Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to 2.4% on a yearly basis in November from 2.3% in October, the US Bureau of Economic Analysis (BEA) reported on Friday.

The core PCE Price Index, which excludes volatile food and energy prices, rose 2.8% in the same period, matching October's reading but arriving below the market expectation of 2.9%. The core PCE Price Index rose 0.1% on a monthly basis.

Market reaction

The US Dollar came under bearish pressure with the immediate reaction. At the time of press, the USD Index was down 0.5% on the day at 107.90.