US PCE inflation heats up in December

WASHINGTON, Feb 20 (Reuters) - Underlying U.S. inflation increased more than expected in December, and signs are pointing to a further acceleration in January, which would strengthen ‌expectations that the Federal Reserve would not cut interest rates before June. The personal ‌consumption expenditures price index, excluding the volatile food and energy components, rose 0.4% after an unrevised 0.2% gain ​in November, the Commerce Department's Bureau of Economic Analysis said on Friday. Economists polled by ...