Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

RBA is overachieving on inflation and should “break on through to the other side” to reduce the policy rate in February.

Australian consumer prices rose at the slowest pace in almost four years in the December quarter, while a pullback in housing costs helped cool core inflation and open the door to a cut in interest rates as early as next month.

Australias consumer price index (CPI) inflation grew less than expected in the fourth quarter, signaling a slowdown but still remaining above the Reserve Bank of Australias (RBA) target range. Data from the