U.S. inflation likely worsened last month on the back of higher prices for gas, eggs, and used cars, a trend that could make it less likely that the Federal Reserve will cut its key interest rate much

Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.

The path of inflation proved bumpier than expected in December, with price growth picking up more than economists had forecast. The consumer price index climbed 2.9% year over year in December, according to data released Wednesday by the Bureau of Labor Statistics.

Inflation picked up in December, if economic forecasters are right—driven by rising food and energy costs. And the uptick will almost certainly push the Federal Reserve to rethink any plans for a rate cut in January.

Consumer inflation data came in slightly hotter than expected in December. Consumer prices were up 2.9% for the 12 months ended in December as compared to 2.7% in November, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. On a monthly basis, prices rose by 0.4%.

There appears to be some welcome news on the US inflation front. Price hikes on the wholesale level were much tamer than anticipated in December, according to the latest Producer Price Index released Tuesday,

Economists expected consumer prices to rise 0.3% on a monthly basis in December, and for the annual inflation rate to rise to 2.8%, according to FactSet’s consensus estimates. Core inflation was ...

Exchange-traded funds that hold bonds were rallying on Wednesday morning, following fresh data from the consumer-price index showed the rate of core U.S. inflation slowed slightly last month. The iShares Core U.

Recently, progress on inflation appeared to be stuck or ... The consensus estimates on FactSet did anticipate core slowing on a monthly basis but holding firm at 3.3% for the year.

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The U.S. government named 15 drugs that will be subject to the second round of price negotiations by Medicare, including Ozempic and Wegovy, the drugs at the center of the weight-loss craze. The Biden administration said the drugs account for $41 billion in annual Medicare spending,

The drop in Apple shares Thursday broke a three-day winning streak for the S&P, despite big banks posting upbeat earnings.