Consumer Price Index inflation rose 0.5% month-on-month, likely incrementally delaying any Federal Reserve plans for interest rate cuts.

As part of the FOMC’s mandate, the Fed is making incremental changes to the federal funds rate to guide inflation closer to 2%. CPI data is one of the Fed’s measurements of our economy’s ...

Consumer price inflation reared its ugly head to start the year, dashing hopes for the Fed to lower borrowing costs anytime soon.