NEW YORK, Dec 20 (Reuters) - U.S. Treasury yields fell

on Friday after data showed inflation in the world's largest

economy moderately cooled last month, partly backing the Federal

Reserve's interest rate cut earlier this week.

The benchmark 10-year yield slid 5.4 basis points (bps) to

4.516%, compared with 4.538% before the data's

release.

The report showed that monthly inflation slowed in November

after showing little improvement in recent months. The personal

consumption expenditures (PCE) price index rose 0.1% last month

after an unrevised 0.2% gain in October.