US consumer price inflation rose by 0.1% last month, core CPI which strips out oil and food prices was slightly stronger at 0.2%. Price improvement came from the second hand car market and medical services which both posted positive price gains, overall drug prices remained steady. Last month’s CPI print is enough to tip the year on year inflation rate in the US up to 1.8% from 1.7%. With the depreciation in the dollar coming from 2017 and steady levels of unemployment we can expect to see upward pressure on US headline inflation in 2018 and should this materialise we expect to see the FED raising interest rates faster than the market is currently pricing for.