U.S. inflation ticked higher in November while core price pressures held at multiyear lows, potentially completing the picture for the Federal Reserve's end-of-year interest-rate decision next week. The Commerce Department said its headline Consumer Price Index for November was pegged at an annual rate of 2.

Financial markets reacted positively to November CPI report, fueling expectations of a Fed rate cut next week. Click for my full analysis of the inflation report.

A Federal Reserve rate cut is expected Dec. 18, but the November CPI inflation report could trigger a hawkish shift for next year.