Chris Williamson, chief economist at Markit, said: "UK inflation came in higher than expected in January, adding further pressure for policymakers to hike interest rates again, possibly as soon as May".
Figures released Wednesday by the U.S. Labor Department revealed that the Consumer Price Index rose 0.5% last month against projections of a 0.3 percent increase. Economists expect January CPI to rise 1.9% year-over-year.
As per data released by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, food inflation saw a marginal decline to 4.70 percent in January from 4.96 percent in December a year ago.
Australia failing to improve lives of Aborigines
The scheme would provide survivors in the Northern Territory and the ACT with access to up to $75,000, if Labor is elected. However, he stressed the need to include more indigenous people in service delivery and improve housing supports.
Luke Bartholomew, investment strategist at Aberdeen Standard Investments, said: "There is a risk that this could pour fuel on the fire of last week's market sell off".
"Of itself, inflation, particularly driven by higher demand, is not necessarily negative for equities", said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey. That nervousness is not going away.
The 1.8 percent increase in core prices is still below the Fed's 2 percent target.
"While the door remains open for a May interest rate hike, the Bank of England will likely need to see indicators of the economy's health improve to be sufficiently reassured that the economy is ready for another rise in borrowing costs".
The recently announced fiscal stimulus package comes at a time where the labour market is already very tight, which coupled with a weaker dollar, could lead to higher levels of inflation in the future.
Saudi Arabia and Russian Federation may team up on LNG, nuclear and chemicals
Saudi officials have said the government plans to sell up to 5 percent of Aramco shares on one or more foreign exchanges in addition to Riyadh .
Britain's annual inflation rate remained at 3.0 per cent in January, holding near to a six-year peak, official data showed yesterday.
The renewed signs of building inflationary pressure in the USA economy put Wall Street on alert, with indications from pre-market trading showing a steep fall is likely as U.S. markets open.
Inflation remained unchanged at 3% last month adding further pressure on the Bank of England for an interest rate rise. Unfortunately this was not to be the case. "It's the market's job to adjust to the backdrop of interest rates".
New data pointing to price and wage increases suggest the dynamics could be changing.
Including all items, CPI rose 2.1% over the prior year in January, more than the 1.9% that was expected by economists.
The Evil Within 2 Gets A Free First Person Update
With the update, you'll be able to play the entirety of The Evil Within 2 via first-person by flipping a switch in the options. As an added bonus, the first-person update also applies to the free trial version of The Evil Within 2 .