Inflation held steady in December, remaining well above the Fed's 2% target

Inflation rose at a steady pace in December and remained persistently above the Federal Reserve's target rate as policymakers consider the case for interest rate cuts amid economic uncertainty.

The Bureau of Labor Statistics said on Tuesday that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.3% on a monthly basis in December and held steady at 2.7% on a year-over-year basis.

Both of those figures were cooler...