Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.

Economists expect the consumer-price index, due this morning, to show inflation running at a 2.9% annual clip in December, up from 2.7% a month earlier. With that in mind, here's how inflation has tra