Fed’s inflation fight becomes trickier as cost of services climbs

Persistently high US inflation will be difficult to squelch after taking root in the services sector of the economy, economists warn, suggesting the Federal Reserve will be forced to press ahead with further interest rate rises in 2023.

After a year of skyrocketing consumer prices, the US inflation rate is poised to decline rapidly next year. But many economists caution underlying pressures will keep it at levels well above what the