US inflation is set to back Fed pause after robust jobs data

The annual figure suggests progress toward tamer inflation has essentially stalled, at a time when the labour market and demand show scant signs of distress.

Underlying US inflation probably cooled only a touch at the close of 2024 against a backdrop of a resilient job market and steadfast economy, supporting the Federal Reserve’s go-slow approach to further rate cuts.The consumer price index excluding food and energy is seen rising 0.2% in December after four straight months of 0.3% increases, according…

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