Consumer prices increased by the most in seven months, but that is unlikely to discourage the Federal Reserve from delivering a third consecutive interest rate cut next week.
Read More US consumer prices post largest gain in seven months; cost of rent subsides
Consumer spending increased slightly less than expected in August, suggesting some moderation in economic growth in the third quarter.
Read More US consumer spending, inflation rise moderately in August
U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction.
Read More Fed expected to deliver quarter-percentage-point rate cut next week
It is a worrying sign for the Fed, suggesting that the elevated pace of price increases could last longer than expected.
Read More Inflation rises moderately in April, consumer spending slows
The Consumer Price Index report for December, released today, reveals an annual inflation increase of 3.4%, surpassing expectations.
Read More Inflation Surges Beyond Expectations, Undermining ‘Bidenomics’ Narrative