The figures further reduced already-slim chances that Fed officials will start lowering interest rates soon, and any additional reacceleration risks reigniting talks that they will resume hikes. Some policymakers have said they want to see a broader easing of price pressures before cutting rates.
US consumer prices jumped at the start of the year, stalling recent disinflation progress and likely delaying any Federal Reserve interest-rate cuts.
The consumer price index rose by more than forecast across the board in January — on a monthly and annual basis — as did the core measures, which strip out food and energy costs. A key subset of services prices advanced by the most in nearly two years, and shelter costs heated up, government data showed Tuesday.
