The Federal Reserve’s preferred inflation gauge rose for the third consecutive month to its highest level in seven months, supporting the U.S. central bank’s decision to pause its interest rate-cutting cycle.
According to the Bureau of Economic Analysis (BEA), the annual Personal Consumption Expenditures (PCE) price index—a measure that uses a broader range of goods and services—increased to 2.6 percent in December from 2.4 percent in November.
