Key Inflation Gauge Accelerated In December

WASHINGTON (AP) – A key inflation gauge accelerated in December, a sign that many prices are still rising more quickly than most Americans would prefer – and faster than the Federal Reserve’s target of 2% a year. The figures show that inflation remains elevated, even as it has come down from a peak near 7% in 2022. With many prices still rising more quickly than they did before the pandemic, the report points to a key reason that many Americans remain unhappy with the economy, even as unemployment remains low and growth is solid.