Inflation: Consumer prices rise 3.1% in January, defying forecasts for a faster slowdown "This is a bad news for those betting on decreasing interest rates soon"
US consumer prices rose more than expected in January, according to the latest data from the Bureau of Labor Statistics released Tuesday morning.
Investors had been closely watching the print for clues on when the Federal Reserve will begin cutting interest rates.
Markets are now pricing in a nearly 80% chance the Fed cuts rates in June, bucking previous expectations that the central bank would begin cutting rates in May.
It is too early to declare victory over inflation,
Annual inflation has remained above the Federal Reserve's 2% target.
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