US inflation jumps higher than expected in January
US inflation rose above forecast to 3% in the 12 months to January, meaning the Fed is unlikely to cut interest rates soon, especially as the US awaits the impact of tariffs on consumer pricing.
In January, consumer prices in the US climbed 0.5% from December 2024 resulting in an annual inflation rate of 3% for the 12 months that ended in January, according to the latest Consumer Price Index data released by the US Bureau of Labor Statistics.
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