The ‘broadly in line’ data opens the door for at least two more increases of 0.25 of a percentage point in US interest rates.
, the fastest pace in three months, while it was up 6.4 per cent from a year earlier.
The median estimates in a Bloomberg survey of economists called for a 0.5 per cent monthly advance in the CPI and a 0.4 per cent gain in the core measure.: “Now that the Federal Reserve is down to 25 basis point hikes, the negative reaction function for upside surprises on inflation just isn’t there. It seems we’ve entered a phase where markets are comfortable with higher rates because recession fears are dissipating.
He added: “The Fed’s favourite core measure, services ex-energy and housing - the “supercore” - rose 0.4 per cent, for the second straight month, pushing the 3m/3m annualised rate down to 4.5 per cent from 5.3 per cent in December. This is the slowest rate of increase on this basis since January last year, but it won’t slow further unless the m/m prints soften.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What to watch in January’s US inflation reportFigures that show lingering price pressures on the heels of a blow-out January jobs report will heighten concerns of persistent inflation.
Read more »
JB Hi-Fi hoists dividend but sales are slowingThe RBA’s rate hikes seem to be finally slowing spending on big-ticket items, with The Good Guys outlets posting zero growth in January.
Read more »
China says US sent balloons into its airspace more than 10 times since beginning of January 2022The allegation from Beijing follows the United States shooting down what it says was a Chinese spy balloon off the coast of South Carolina earlier this month.
Read more »
Markets alert to US CPI surprise as rate fears intensifyJanuary’s much watched US inflation figures are set to shape how markets are pricing the risk of further Fed tightening.
Read more »
ASX LIVE: Australian shares are poised to catch New York’s pre-CPI data rally. Ansell sales drop 17pc; Kathmandu January sales up 52 per cent; $A higher.ASX to catch New York’s pre-CPI data rally; Temple & Webster sales down 7pc in 2023 trading; CSL and Challenger keep FY23 guidance intact; Seven West profit down; Ansell sales drop 17pc; Kathmandu January sales up 52 per cent.
Read more »
Market shows ‘little signs of anxiety’ ahead of release of Jan inflation figuresThe market is showing “little signs of anxiety” ahead of the January inflation figures to be released Tuesday night, says CommSec’s Tom Piotrowski. “It’s the technology names that are leading the improvements,” Mr Piotrowski told Sky News Australia. “Your large-cap marque tech names like Amazon, Apple, Microsoft – they’re up anywhere between 1 and 3 per cent.” Presented by CommSec.
Read more »