The United States released the consumer price index for the month of January, where CPI Rose by 0.4% after rising by 0.5% in the prior month and above estimates of 0.3%, while compared with a year earlier, CPI rose by 1.6%, compared with the prior rise of 1.5% and in line with median estimates.

Core CPI also rose above estimates in January, where core CPI rose by 0.2% on monthly basis, compared with the prior and expected 0.1% rise, while compared with a year earlier, core CPI rose by 1.0%, compared with median estimates of 0.9% and the prior estimate of 0.8%.