Wall Street picks up after early morning losses
by Richard Partington from Economics | The Guardian on (#3FX9K)
The Dow moves up 100 points, shrugging off fears of imminent interest rate rise
Wall Street shrugged off signs of building US inflation despite lingering fears that a rapid increase in prices would force the Federal Reserve to raise interest rates.
Official US data showed the seasonally adjusted consumer price index (CPI) for January rose 0.5% as households paid more for petrol, rental accommodation and healthcare. The annual rate of growth in prices held steady at 2.1% against economists' expectations for a fall to 1.9%.