The U.S. consumer price index increased more than expected in January, reinforcing the Federal Reserve's message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy.

Inflation worries were re-ignited after consumer prices rose faster than expected in January, with Wall Street experts expecting caution from the Federal Reserve while keeping a wary eye on further tariff action from Washington.

Today’s stronger than expected CPI release is likely to further cement the FOMC’s cautious approach to easing. A resilient labor market also provides scope for patience. We