The official data released in the US showed the cost of living as measured by the consumer price index (CPI) stayed in January following a 0.1% decline in December. Core rises by most in four years Core inflation, which strips out volatile food and energy component, rose 0.3% m/m bettering the estimated rise of 0.2%. The rise was the biggest in four years. The annualized core figure also bettered estimates by printing at 2.2%. Meanwhile, the headline annualized figure printed at 1.4%, compared to the expected figure of 1.3%. The data indicates labor market tightening and wag gains is translating into higher domestic demand and inflationary pressures. For more information, read our latest forex news.