Investors expect the Federal Reserve to hold US interest rates steady at the end of January and to make two 0.25 percentage point cuts by the end of this year.
Inflation data due out on Tuesday could put those assumptions to the test.
Economists polled by Bloomberg expect the data to show that the annual inflation rate was flat in December at 2.7 per cent. They expect the core figure, which strips out volatile energy and food prices and is closely watched by rate setters, to have risen to 2.7 per cent, from 2.6 per cent in November.
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