U.S. prices increased in December while consumer spending surged, suggesting that the Federal Reserve could delay cutting interest rates for some time this year.

The Federal Reserve expressed concern that inflation has not eased enough for it to continue lowering interest rates.

The accompanying policy statement did not include the reference to inflation having made progress toward the Fed's 2% target. No rate cut is expected before June

The Federal Reserve left interest rates unchanged Wednesday as it began a new wait-and-see policy stance amid a cloudy economic outlook and uncertainty over whether some of President Donald Trump’s policies could stymie the fight against inflation.

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with

which bases its calculations on the Consumer Price Index, a widely used indicator for inflation. Members of the Federal Reserve Board of Governors are appointed by the U.S. president and confirmed ...

Inflation in the US climbed in December, with consumer spending accelerating, potentially delaying Federal Reserve interest rate cuts.

The Federal Reserve’s preferred inflation gauge moved even higher in December, driven in part by rising food and energy prices. However, a closely watched measurement of underlying inflation trends indicated some progress in the fight to rein in price hikes.

The Federal Reserve's preferred inflation gauge, known as the personal consumption expenditures index, rose in December in line with economists' expectations.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

The Bureau of Economic Analysis said Friday that personal consumption expenditures rose 2.6% in December, in line with expectations. Core PCE, omitting food and energy, was 2.8%.