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.

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

Prices rose 2.7% in the 12 months through November, in line with the consensus forecast from economists polled by The Wall Street Journal. That marke