One of the most consequential takeaways from the latest PCE report showed that core inflation, which excludes volatile food and energy prices, was stable in December. An earlier reading from the CPI had showed a modest retreat in the year-over-year core rate.

Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.

The Federal Reserve's preferred inflation measure is expected to show prices rises accelerated slightly in December, moving further away from the central bank's 2% target. The personal-consumption expenditures,

U.S. stocks opened higher on Friday after an earnings report from Apple impressed investors by showing strong growth in the consumer-tech giant's services business. Later, a reading from the Federal Reserve's preferred inflation gauge,

Key Takeaways Inflation, as measured by Personal Consumption Expenditures, rose 2.6% over the year in December, up from 2.4% in November and in line with forecasts.As the Federal Reserve's goal of a 2% annual rate fades into the distance,