Inflation rose unexpectedly in January, with the Consumer Price Index rising 3% over the last 12 months, up from 2.9% in December. Forecasters had expected inflation to slow down, but prices for food, gas, and housing pushed the inflation rate out of the 2% range for the first time since May.

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.

The January CPI report showed headline inflation at 0.47% and core at 0.45%, with YOY figures rising, spooking markets and increasing Treasury yields. Strong inflation da