Fed's preferred inflation gauge ticks up, denting rate-cut hopes: ‘Economy remains on a solid footing'

The Federal Reserve’s preferred inflation gauge ticked up in November in the latest sign that prices remain stubbornly elevated, while consumers spent at a healthy pace.Consumer prices rose 2.8% in November from a year earlier, the Commerce Department said Thursday, up from a 2.7% annual pace in October. Excluding the volatile food and energy categories, core prices also increased 2.8% in November from a year ago, slightly higher than October’s 2.7%.Consumer prices rose 2.8% in November from a year earlier, ...