The Federal Reserve's preferred inflation measure was tame in November, a step in the right direction for policymakers as they seek further rate cuts in 2025. The data should help ease concerns among Fed officials about the inflation outlook. Fed officials this week released updated forecasts showing higher prices and interest rates in 2025. The new forecasts sparked a sell-off in U.S. stocks as investors have already priced in expectations of tighter policy. Details on prices show a broad slowdown in inflation. Core service prices, a closely watched category that excludes housing and energy, rose 0.2% month-on-month, the lowest level since August. Core commodity prices, excluding food and energy, fell for the first time in three months. (Jinshi)