Inflation came in a little bit hotter than expected last month, the January Consumer Price Index (CPI) report revealed Tuesday, all but ensuring that the Federal Reserve won't enact as many interest rate cuts this year as the market had hoped.
Headline inflation rose 0.3% last month, the Bureau of Labor Statistics said Tuesday, while economists were looking for a 0.2% rise in the index. On an annual basis, headline inflation increased 3.1% vs expectations for 2.9%.
