Inflation rose to 3.4 percent in December - above economists' predictions - sparking fears the Federal Reserve could stave off interest rate cuts this year.It marks an increase from 3.1 percent in November and remains well above the Fed's 2 percent target. The (CPI) was pushed up by housing which drove more than half of the monthly growth, the Department of Labor said. Food prices rose just 0.2 percent between November and December.
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