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US CPI rose 3.1% year-on-year in January, more than expected, Fed rate cut timing may be delayed

Both overall and core consumer price index (CPI) annual growth in the United States were higher than expected in January, indicating that US inflation is still on hold, at least not falling as fast as market expectations. , which not onlyfed(Fed) starts in Marchcut interest ratesThe prospects are even slimmer, and the timing of an interest rate cut may be further delayed. On the 13th, the US dollar index jumped 0.4% intraday and the US dollar rose above 150 yen against the yen, reaching its highest level in three months.

usaLabour DepartmentOn the 13th, it was announced that the CPI increased by 0.3% in January, which was the same as the increase in December last year, and the annual increase was 3.1%, slightly lower than 3.4% in December last year, but the two economists compared I was more. expected.

Last month, core CPI rose 0.4%, the largest monthly increase in eight months, exceeding market forecasts; Year-to-date, it climbed 3.9%, the same as December, but exceeding market forecasts of 3.7%.

Economists said the monthly growth in core CPI has increased rather than declined, which shows that inflation is still stuck and there are many hurdles in the “last mile” of the inflation fight. The Fed has made it clear that it is unlikely to cut interest rates in March, and the market is now considering the expected timing of an interest rate cut. Delayed until May; Now that the CPI no longer continues to decline, the timing of the Fed’s first interest rate cut may be postponed to June.

Buoyed by the strong CPI data, traders bet that the Fed will not raise interest rates until June. The US dollar index rose 0.4% to 104.543 intraday on the 13th, and rose 0.5% against the yen to 150.065, the highest since November 17 last year.

Finance(TagstoTranslate)Interest rate cuts(T)Department of Labor(T)Federal Reserve

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