US CPI report for December: Inflation data remains firm, fueling fears of higher interest rates

Forecasters expect a monthly report on US consumer prices to show a fifth straight month of steady gains, strengthening the case for a longer pause in Federal Reserve interest rate cuts.

The so-called core consumer price index, which excludes food and energy, is seen to rise 0.3% in December together with a 0.4% progress in the overall index according to the median estimates in a Bloomberg survey. The CPI report is scheduled to be released Wednesday by the Bureau of Labor Statistics.