Consumer inflation increased 2.9% in 2024, which is above the Federal Reserve's goal of 2%, but wages overall more than kept up with higher prices.

The Federal Reserve is expected to maintain interest rates at 425-450 basis points on January 29, supporting a continued stock market rally. Read more here.

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 this year.

Gas prices rose sharply, but investors homed in on a small decline in the core CPI.

The consumer price index (CPI) accelerated to 2.9 percent last month from a year ago, up from 2.7 percent in November, the Labor Department said in a statement.

The consumer price index, an inflation measure ... told Business Insider. The Federal Open Market Committee could consider the new data in its interest-rate decision at the end of the month.

U.S. inflation ticked higher in December, data indicated Wednesday, but core price price pressures eased, potentially sparking a relief rally in stocks tied to renewed bets on Federal Reserve interest rate cuts.

Recently, progress on inflation appeared to be stuck or, at worst, reversing: A closely watched gauge of underlying price hikes — an index that excludes highly volatile categories — hadn’t budged for months.

offers market a "glimmer of hope" The latest Consumer Price Index (CPI) reading indicates headline inflation rose slightly in December, exceeding expectations and affirming a rate-cut trend line that the Federal Reserve laid out at its last meeting in ...

While the overall consumer price index rose, the core measure that omits food and energy costs was below estimates.

STORY: U.S. inflation data out Wednesday showed consumer prices ticked up more than expected in December amid higher gas prices. The Labor Department's consumer price index rose ... nearly even odds that the Federal Reserve will cut interest rates twice ...

U.S. consumer prices rose in December due to higher energy costs, leading to the highest inflation in nine months. However, underlying price pressures showed signs of subsiding, raising hopes of tamer inflation readings in the future.