Inflation Edges Up 3.4 Percent in December, Fueled by Food and Housing Prices, Casting Doubts on Rush To Cut Interest Rates
Inflation’s persistence helps explain why polls show many Americans are dissatisfied with the economy — a likely key issue in the 2024 elections.
WASHINGTON — Higher rents and food prices boosted overall inflation in December, a sign that the Federal Reserve’s drive to slow inflation to its 2 percent target will likely be a bumpy one even as the central bank faces pressure to cut interest rates.
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