US January CPI +7.5% vs +7.3% expected

• Highest reading in 40 years
• Prior was 7.0%
• m/m CPI +0.6% vs +0.5% expected
• Prior m/m reading was +0.6%
• Real weekly earnings -0.5% vs +0.1% prior (revised to -0.3%)
• Full report

Core inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term:

• Ex food and energy +6.0% vs +5.9% y/y expected
• Prior ex food and energy +5.5%
• Core m/m +0.6% vs +0.5% exp
• Prior core m/m +0.6%

Details (m/m):

• Food +0.9%
• Housing +0.7%
• Owners equivalent rent +0.4%
• Energy +0.9%
• Gasoline -0.8%
• New vehicles 0.0%
• Used cars and trucks +1.5%
• Apparel +1.1%
• Services +0.4%
• Medical care +0.6%
• Lodging away from home -3.9%

The US dollar has jumped and the market is now pricing a 43% chance of a 50 basis point hike in March, up from 30% before the data. Six hikes are priced in for 2022 now.

US 2-year yields are up 8 basis points to 1.4300%.