Hot CPI

Both headline and core CPI rose more than expected in January. Headline CPI jumped 0.5% MoM  consensus 0.3%) pulling CPI up to 3.0% YoY (consensus +2.9%). That is the seventh straight month of accelerating MoM CPI. CPI Core rose 0.4% MoM (consensus 0.3%) and 3.3% YoY vs. 3.1% expected. S&P futures we’re flat ahead of…