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Last week, the Labor Department reported a larger-than-expected 0.5% month-over-month increase in CPI for January. The comparable Personal Consumption Expenditures Price Index the Fed uses for its 2% inflation target is due to be released next week, and most economists estimate it will show less of an increase than reflected in the CPI. "The CPI number was not great," Goolsbee said at a Chamber of Commerce event in Chicago.

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(Reuters) -St. Louis Federal Reserve President Alberto Musalem on Thursday raised the twin risks of rising inflation expectations and a labor market that weakens alongside rising prices, in remarks that highlighted the potentially difficult choices facing the U.S. central bank. While many of his colleagues say they regard inflation expectations as anchored, Musalem said he was concerned recent data showed they may be rising - a development that might force the Fed onto a more restrictive path. "In the current environment, the stakes are higher than they would be if inflation was at or below target," Musalem said in a speech given before the Economic Club of New York.

Walmart’s stock has been on a tear over the last year.

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Federal Reserve officials are taking note of what they see as rising inflation risks and the uncertain impact of President Donald Trump's trade, immigration and other policies. "Going forward, I consider it is appropriate to hold the federal funds rate in place for some time, given the balance of risks that we face right now," Federal Reserve Governor Adriana Kugler said on Thursday. Inflation still has "some way to go" before reaching the Fed's 2% target, she said, and while the labor market is healthy and the risk of it weakening has diminished, upside risks to inflation remain.

(Bloomberg) -- Nigeria’s central bank paused its steep campaign of monetary tightening, after an overhaul of the data used to calculate inflation showed it had significantly slowed.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsChild Migrant Watchdog Gutted in DOGE CutsChicago Council Delays $830 Million Bond Vote Amid ScrutinyThe monetary pol