Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. CPI inflation accelerated more than expected in January, the Bureau of Labor Statistics said Tuesday, reinforcing the notion that the Federal Reserve will take its time before cutting interest rates later this year.
CPI climbed 0.305% in January and core CPI rose 0.392%, both a tenth higher than in December, bringing the 12-month rates to 3.1% and 3.9%, respectively. Core CPI was also a tenth higher than Wall Street had expected due to the shelter index jumping 0.6%. Shelter price gains contributed over two-thirds to the headline measure, the Bureau of Labor Statistics said Tuesday. Treasury futures rose and the 10-year Treasury yield surged to its highest since Dec. 1. (See: MNI: US Shelter Inflation Cooldown Seen Limited In 2024)
Supercore CPI, which strips out food, energy and housing costs, rose to 0.85% in January from 0.3% in December, bringing the three-month annualized rate to 6.7% from 4% and the six-month rate to 5.6% from 4.5%, according to an MNI calculation. The measure is seen by the Federal Reserve as a proxy for how sticky services inflation might be, as these price categories reflect more labor-intensive sectors and less by supply chain issues. (See: MNI INTERVIEW: Hot US Economy Complicates Fed Cut Calculus)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.