WASHINGTON—Tariff-driven price increases have spread more broadly through the U.S. economy, though on balance inflation has risen at a modest pace in most parts of the country, the Federal Reserve said on Dec. 5 in its latest report on the economy.
The U.S. central bank’s “Beige Book” report, a snapshot of the economy gleaned from discussions with business contacts in the Fed’s 12 districts in the weeks through November 26, also said that the economy appeared to be growing modestly to moderately. Labor markets tightened across a broad range of industries, and wage growth “tended to the higher side of a modest to moderate pace.”
