The measure of price increases targeted by the Fed sped up in December, reflecting a stubborn spell of inflation that remains modestly higher than the central bank’s target.

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,