our top story this morning Asia.
The long awaited consumer price index report for january
is out inflation has been even higher than expected.
The C. P. I.
Data shows prices on everyday consumer goods rose 7.5% over the past year.
That's the highest increase since february 1982.
That's higher than estimates of 7.2%.
Core inflation also rising at its fastest level since August of 1982.
Even without volatile grocery and gas costs,
The consumer price index increasing 6% over the last year.
That's higher than expected
5.9% now even monthly rates were higher with headline and core CPI I rising .6%
compared to estimates of .4% for both metrics.
Energy and vehicle costs continue to lead the index this morning.
This almost guarantees multiple interest rate hikes by the Fed this year Asia.
Yeah. And Hannah, crazy to think.
Just a few months ago we were expecting you know 3-4 rate
hikes and now a lot of analysts projecting it could be anywhere.
The market pricing in 5-5.5 rate hikes.
We know this number was expected to rise by 7.2%.
is what we got.
So it almost clears the path for the Fed monetary policy moving forward
kind of curbing that inflation and that's why we're
seeing the futures where they are right now,
jerome Powell did say in his last press press conference at this is he
there are no secrets here.
He's been very transparent I feel and we know this is coming.
It's something to keep an eye on.