The U.S. Bureau of Labor Statistics will announce the consumer price index (CPI) data for January today. The inflation rate in the U.S. is expected at 6.2% in January, the lowest since October last year. The inflation fell significantly in December, dropping from 7.1% to 6.5%.
Meanwhile, core inflation, which excludes volatile food and energy, is expected to ease to 5.4% from 5.7%. This CPI release is key data that will determine whether the U.S. Federal Reserve opts for further monetary policy tightening. The U.S. Fed slowed the rate hike to 25 bps this month due to cooling inflation.
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The U.S. stock indexes tied to futures Dow Jones, S&P 500, and Nasdaq are currently trading flat and green, after recording over a 1% jump on Monday.
Wall Street expects a further fall in the U.S. CPI data for January as oil and food prices continue to fall. JPMorgan estimated a 70% chance of CPI coming in at 6.3%. The bank’s trading
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