The increase was in line with economists' expectations. In the 12 months through December, the PCE price index advanced 2.6%.

The central bank needs to see further progress on inflation or weakness in the labor market to resume interest rate cuts.

Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a ...

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

“The Fed’s prognosis is for a slower pace of monetary easing moving forward, as the economy is doing well and prices are only slowly returning to target in an environment of great uncertainty,” said ...

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 personal consumption expenditures ...

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

This story has been updated with additional details. The Federal Reserve’s preferred inflation measure surged as predicted ...

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%.

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 ...

The humble egg is now a source of frustration for millions of shoppers around the U.S, who face soaring prices and shortages.