More numbers are due out before the next FOMC meeting in March, but if they are similar to today's data, the Fed will likely delay any interest rate cuts

The core PCE price index increased just 2.9% in December year-over-year, even with robust holiday spending.

Though the BLS's December jobs report shows an increase in job growth and wage gains that exceeded expectations, it is riddled with caveats about the strength of the labor market.

Fed rate hikes are on hold for now, but some think inflation and the soft job market will lead to cuts in the near future.

The core CPI, which excludes food and energy costs, rose just 0.2% from September to October.

According to ADP, the labor market last month added the fewest jobs since early 2021.

Missing 'gold standard' economic data will test alternatives for the Fed and others who rely on government numbers.

U.S. core CPI rose 0.3% in August, marking the first increase since February.