An inflation measure watched by the Fed eases to 5.5%WASHINGTON (AP) — A measure of inflation closely watched by the Federal Reserve slowed last month, another sign that a long surge in consumer prices seems to be easing.“We expect a deceleration in household spending as the Fed hikes rates further in 2023,″ Rubeela Farooqi, chief U.S. economist at High Frequency Economics, wrote in a research note.Tunisia's political experiment threatens economic collapseCubans search for holiday food amid deepening crisisWall Street ends higher, still winds up with 3rd weekly lossWall Street points modestly higher ahead of inflation reportAmericans’ after-tax income, however, rose 0.3% in November even after accounting for inflation.The Fed is believed to monitor the Commerce Department’s inflation gauge that was issued Friday, called the personal consumption expenditures price index, even more closely than it does the Labor Department’s better-known consumer price index.CPI rose 7.1% in November from 12 months earlier, down from June’s 9.1% year-over-year increase, which had been the biggest such jump in four decades."