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In December, inflation exceeded expectations, with the consumer-price index rising by 3.4 percent from the previous year and 0.3 percent from the prior month.
Housing and energy costs were major contributors to the increase. Additionally, food prices rose, with grocery prices up by 0.1 percent and dining out prices up by 0.3 percent.
Core prices, excluding food and energy, also rose by 0.3 percent.
The Federal Reserve may delay rate cuts due to the high inflation, despite market expectations.
There is also political scrutiny over the timing of rate cuts in an election year.
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