New inflation data out Wednesday showed headline consumer prices rose as forecast in December as core prices showed some easing with the Federal Reserve's path forward in focus. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.

U.S. consumer prices increased slightly more than expected in November as energy costs rose, pointing to an inflation trend that lines up with the Federal Reserve's view for a slower path of rate cuts this year.

The Labor Department released the inflation report for December, which showed prices were up 2.9% from a year ago, in line with economists expectations and up from 2.7% in November.

A key inflation metric eased for the first time since July as investors debate the Federal Reserve's next interest rate decision.

U.S. consumer prices increased slightly more than expected in December amid higher costs for energy goods, pointing to still elevated inflation that aligns with the Federal Reserve's projections for fewer interest rate cuts this year.

US consumer prices eased in December as the so-called core consumer price index increased 0.2% after rising 0.3% four straight months. Michael McKee breaks down the numbers on Bloomberg Television.

The Consumer Price Index 0.4% M/M in December, matching the consensus and slightly accelerating from the 0.3% increase in the previous month, according to U.S. Bureau of Labor Statistics data released on Wednesday.