U.S. consumers paid more for goods and services in December than economists expected, according to the latest consumer price index report. So-called core CPI — consumer prices excluding volatile food and energy prices — rose 3.9% from December 2022 to December 2023. National Association of Manufacturers Chief Economist Chad Moutray said the Federal Reserve is likely to hold interest rates steady at its meeting this month, but could start cutting them as soon as March. In its analysis, OMA Connections Partner RSM is predicting top-line inflation will end the year at or below 2.5%. 1/11/2024