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.

The January inflation data releases today, with markets closely monitoring for persistent inflation signs that could delay Fed rate cuts.

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