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 Federal Reserve’s preferred inflation gauge moved even higher in December, driven in part by rising food and energy prices. However, a closely watched measurement of underlying inflation trends indicated some progress in the fight to rein in price hikes.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

The Federal Reserve's preferred inflation gauge, known as the personal consumption expenditures index, rose in December in line with economists' expectations.

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 0.7 per cent in December after an upwardly revised 0.6 per cent rise in November. Spending was previously reported to have gained 0.4 per cent in November.

The Federal Reserve expressed concern that inflation has not eased enough for it to continue lowering interest rates.

The Federal Reserve's favorite inflation gauge is due out this morning. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

The Federal Reserve left interest rates unchanged Wednesday as it began a new wait-and-see policy stance amid a cloudy economic outlook and uncertainty over whether some of President Donald Trump’s policies could stymie the fight against inflation.

which bases its calculations on the Consumer Price Index, a widely used indicator for inflation. Members of the Federal Reserve Board of Governors are appointed by the U.S. president and confirmed ...

The Consumer ... Price Index for Urban Wage Earners and Clerical Workers (CPI-W): This index is used to determine the annual cost of living adjustments to Social Security benefits and to adjust ...

(Reuters) - U.S. stock index futures rose on Friday, driven by gains in Apple following a strong sales growth forecast, as investors focused on key inflation data expected later in the day that could influence the Federal Reserve's policy decisions.