That would push it further from the Fed’s 2% goal. The core rate, meanwhile, would either hang tight at 2.8% or perhaps rise a tick. Why, then, would the Fed still cut interest rates? Most central bank officials believe inflation will begin to trend ...

Average mortgage rates surged to around 7% last month, but they've dropped recently, with markets betting that the Federal Reserve will reduce the federal funds rate on Dec. 18.

Producer inflation remained too high in November, but there were signs of progress below the surface. An interest-rate cut by the Federal Reserve at its Dec. 17-18 meeting remains all but assured. The producer price index jumped by 0.