A key annual inflation metric fell below 3 percent in November, the latest sign that the U.S. is coming in for a rare soft landing from high price growth without a recession. The personal consumption expenditures (PCE) price index dropped to 2.6 percent year-over-year in November, according to new data released Friday by the Bureau of Economic Analysis. The October PCE price index was also revised down to a 2.9 percent annual gain. The Federal Reserve uses the PCE price index as its main measure of inflation. The bank aims for 2 percent annual inflation when adjusting interest rates. Excluding more volatile food and energy prices,…
