Data released by the US Bureau of Labor Statistics reported this Thursday showed that the headline CPI in the US edged higher to 0.6% in January as against 0.5% expected and the previous. Moreover, the yearly rate jumped to a fresh multi-decade high and accelerate to 7.5% during the reported month. This was above consensus estimates pointing to a rise to 7.3% from the 7% recorded at the end of 2021.
Additional details revealed that the core CPI, which excludes food and energy prices, climbed 6.0% from a year ago as against 5.5% in December and 5.9% anticipated. The data lifted market bets for a 50 bps Fed rate hike in March. This, in turn, pushed the yield on the 2-year US government bond, which is more sensitive to rate hike expectations, to the highest level since February 2020, around 1.434%.
Additional details revealed that the core CPI, which excludes food and energy prices, climbed 6.0% from a year ago as against 5.5% in December and 5.9% anticipated. The data lifted market bets for a 50 bps Fed rate hike in March. This, in turn, pushed the yield on the 2-year US government bond, which is more sensitive to rate hike expectations, to the highest level since February 2020, around 1.434%.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.