While the majority of economists expect inflation to remain stable or fall this year, one forecaster believes it could rise to 4%.

Learn how GDP growth can influence inflation, impact economic health, and affect consumer purchasing power. Understand the relation for better financial decisions.

A key inflation gauge accelerated in December, a sign that many prices are still rising more quickly than most Americans would prefer — and faster than the Federal Reserve’s target of 2% a year.

The prices of everyday essentials, such as housing and health care, are at the top of Americans’ concerns. And “affordability ...