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In a statement, officials repeated that inflation remains “somewhat elevated” but removed a reference to it having made progress toward their 2% goal.

WASHINGTON — U.S. inflation accelerated last month as prices for gas, eggs and used cars rose, yet underlying price pressures also showed signs of easing.

The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.1% from October and 2.8% from a year earlier.

While economists expect the Fed to lower rates on Dec. 18 for a third straight meeting, they are now penciling in just three more quarter-point cuts in 2025.

A gauge of present conditions increased to an eight-month high. The group’s measure of expectations for the next six months edged to an almost three-year high.

WASHINGTON — Inflation in the United States ticked up in October, driven by costlier rents, used cars and air fares, a sign that price increases might be leveling off.

WASHINGTON — The post-pandemic spike in inflation eased last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates.

WASHINGTON — An inflation measure tracked by the Federal Reserve remained low, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate.

WASHINGTON — The Federal Reserve’s favored inflation measure remained low last month, setting the stage for the Fed to begin cutting interest rates this fall.

WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed.