Higher-than-expected inflation reading hits hopes of Fed rate cuts
The core consumer price index, excluding food and energy costs, rose 0.4% in January, which was more than expected and the most in eight months.
US consumer prices jumped at the start of the year, tempering hopes for a continued drop in inflation and likely delaying any Federal Reserve interest-rate cuts.
The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from December, which was more than expect
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