Federal Reserve's favored inflation gauge tumbles in November as prices…

WASHINGTON — The Federal Reserve's preferred measure of prices fell last month, another sign that inflation is easing and that Americans should benefit from reduced interest and get relief from painful price shocks in 2024. Friday's report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022. The month-over-month drop was the largest since April 2020 when the economy was reeling from the COVID-19 pandemic. Excluding volatile food and energy prices, so-called core inflation last month rose 0.1% from October and 3.2% from a year earlier. The numbers show…