US Inflation Rises in December; Consumer Spending Accelerates

US ECONOMY - WASHINGTON. U.S. prices increased in December while consumer spending surged, suggesting that the Federal Reserve could delay cutting interest rates for some time this year.

The personal consumption expenditures (PCE) price index rose 0.3% last month after an unrevised 0.1% gain in November, the Commerce Department's Bureau of Economic Analysis said on Friday.

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