Investors are waiting for inflation to pick up, but the consumer price index should show just a slight gain in January, boosted by rising gasoline prices.
Economists expect a consensus 0.3% increase in the index, a measure of inflation, or a year-over-year gain of 1.5%, according to Dow Jones. Excluding food and energy, it is projected to rise by 0.1%.
The CPI report is scheduled to be released at 8:30 a.m. ET Wednesday.
Stephen Stanley, chief economist at Amherst Pierpont, said he expects higher gasoline prices to be a factor in the CPI, which he expects to increase by 0.4%. Prices for unleaded fuel averaged $2.46 per gallon nationally Tuesday, up from $2.30 per gallon in early January,…