Illustration: Liu Rui/Global Times
The US Labor Department is scheduled to release its consumer price index (CPI) for January on Tuesday. Although the CPI rose by 6.5 percent year-on-year in December 2022, the sixth consecutive month of cooling inflation, now an increasing number of analysts forecast that the optimistic expectation of continued decline in US inflation is facing challenges.
Consensus indicates headline US inflation will push 0.5 percent higher in January, spurred on by higher energy prices, unwinding months of deceleration. Excluding food and energy prices, so-called core inflation is forecast to rise 0.4 percent for the month, The Australian Financial Review reported on Monday.
Analysts observed that US inflation likely rose in January, in part due to higher prices of home, second-hand cars and energy. In addition, in a wage-price spiral, the rapid wage growth in the US labor market also causes the costs of…
