A.M. Update – CPI A Little Hot

S&P futures are up +0.1% and knee-jerking around after the CPI report.  The consumer price index rose 0.5% in January at consensus +0.5% following the revised 0.1% increase in December (from -0.1%). That led to a hotter than expected +6.4% YoY CPI print (consensus +6.2%) The core-consumer price index rose 0.4% in January (consensus 0.4%)…