Key Fed inflation gauge rises 4.9% from a year ago, fastest gain since 1983
The core personal consumption expenditures price index, a closely watched inflation gauge at the Federal Reserve, rose 4.9% from a year ago in December.
That was the fastest gain since September 1983 and a touch above the Wall Street estimate.
Employment costs increased 4% from a year ago, the fastest in the 20-year data history, though the quarterly rise of 1% was less than expected. $S&P 500 Index(.SPX.US$ $SPDR S&P 500 ETF(SPY.US$
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