U.S. Fed's closely watched inflation measure rises 2.6 pct in December

WASHINGTON, Jan. 26 (Xinhua) -- The U.S. personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation measure, rose 2.6 percent in December, as inflation cooled amid high interest rates, the Commerce Department reported on Friday.

The latest figure came after the measure in September accelerated to 3.4 percent year on year from 3.3 percent in August, before slowing to 2.9 percent in October and then to 2.6 percent in November, according to estimates released by the Commerce Department's Bureau of Economic Analysis.