US inflation likely remained sticky-high last month, threatening interest rate cuts

U.S. inflation likely worsened last month on the back of higher prices for gas, eggs, and used cars, a trend that could make it less likely that the Federal Reserve will cut its key interest rate much this year. On Wednesday the Labor Department is expected to report that in December the consumer price index rose 2.8% from a year ago, according to economists surveyed by FactSet, up from a 2.7% increase in November. It would be the third straight increase, after inflation fell to a 3 1/2 year low of 2.4% in September.