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

Consumers keep spending, while inflation edges higher.Personal consumption expenditures (PCE) grew by a strong 0.7 percent in December, easily

U.S. inflation increased by the most in eight months in December amid robust consumer spending on goods and services, suggesting the Federal Reserve would probably be in no hurry to resume cutting interest rates soon.

The measure of price increases targeted by the Fed sped up in December, reflecting a stubborn spell of inflation that remains modestly higher than the central bank’s target.