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 ...

The market sees the probability of another 25 basis point interest rate cut at next week's Federal Reserve meeting as rising despite inflation ticking higher in November.

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.