Hot Data Amid Warm Weather

The U.S. economy is refusing to slow down, the latest government data indicate, suggesting the Federal Reserve won't be in any particular rush to implement the rate cuts Wall Street has been hoping to see.

Inflation at the consumer level accelerated last month as prices increased for energy, a trend that has started to reverse since the calendar turned to 2007.

According to the Labor Department, the consumer price index for December rose 0.5%, topping the 0.4% advance that had been estimated by economists surveyed by Bloomberg. The index was unchanged in November. ...