US consumer inflation unexpectedly accelerated last month, according to government data published Wednesday, adding to pressure on the Federal Reserve to continue its rate cut pause.
The consumer price index (CPI) edged up to 3.0 percent in January from a year ago, rising slightly from 2.9 percent in December, the Labor Department said in a statement. This was slightly above the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal.