Prices rose 2.7% in December from a year ago, a sign that inflation continues rising but in line with the pace seen in recent months.

While the U.S. CPI inflation report on Tuesday showed a slightly softer-than-expected annual increase in core prices, there's little reason for consumers or policymakers to cheer.

The cost of wholesale goods and services rose during the government shutdown and showed the persistence of inflation pressures in the guts of the U.S. economy.

Price hikes picked up speed for US-based businesses toward the end of last year, a potential signal that inflation has yet to peak and prices could soon rise faster for consumers.

Inflation held steady in December, continuing to prove stubborn just days after reports of a Department of Justice probe into Federal Reserve Chair Jerome Powell.

Fresh readings on consumer and wholesale inflation showed prices remain sticky, underscoring expectations that Federal Reserve officials will not cut interest rates in the near term. Fed officials, meanwhile,

Inflation didn't get worse in December. But it didn't get better. Prices were up 2.7% a year ago. A drop in gasoline prices was more than offset by rising grocery and electricity bills.

Federal Reserve Bank of Minneapolis President Neel Kashkari said Wednesday he is optimistic about the economic outlook and expects inflation to wane, but it is unclear by how much. “My outlook for the U.

Jamie Dimon says pressure on chair Jerome Powell could ultimately increase interest rates