Inflation Sped Up in December, a Fresh Challenge for the Fed

In December, consumer prices rose 0.4 percent from November, with the Consumer Price Index up 2.9 percent from a year earlier, driven by a sharp increase in grocery prices. Core inflation slowed slightly to 3.2 percent, but overall progress in fighting inflation has stalled, leading the Federal Reserve to consider holding interest rates steady amid concerns about President-elect Donald J. Trump’s proposed policies impacting the economy.

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