The US January CPI and the Australian inflation and wages outlook: pushing out the peak in the inflation process?

The US January CPI came in as expected at 0.5% m/m and 6.4% y/y, although this represents an acceleration on the monthly pace seen in November and December last year. The Cleveland Fed’s trimmed mean measure came in at 0.6% m/m, which is also an acceleration on the average monthly increase of 0.4% …