New York Fed inflation measure heats up in December

By Michael S. Derby Feb 23 (Reuters) - The underlying level of inflation heated up in December as measured by a New York Federal Reserve gauge, suggesting further challenges in getting overall price pressures ‌back to the U.S. central bank's 2% target. The regional Fed bank said its Multivariate Core Trend inflation ‌reading ticked up to 2.8% in December from 2.4% in the prior month, boosted by pressures in prices for services outside of housing ​and by goods costs. Fed officials are expecting price p ...