• U.S consumer prices accelerated in January, but the annual increase was the smallest since late 2021, pointing to a continued slowdown in inflation and likely keeping the Federal Reserve on a moderate interest rate hiking path.
• The consumer price index increased 0.5% last month after gaining 0.1% in December, the Labor Department said on Tuesday. Monthly inflation was boosted in part by rising gasoline prices, which increased 3.6% in January, according to data from the U.S. Energy Information Administration.
• In the 12 months through January, the CPI increased 6.4%. That was the smallest gain since October 2021 and followed a 6.5% rise in December. The annual CPI peaked at 9.1% in June, which was the biggest increase since November 1981.