Summary: US CPI up 0.5% in January, in line with expectations; “core” rate up 0.4%; data stickier, disinflation to date less apparent; Treasury yields rise; rate-rise expectations firm; cyclical, market-driven price rises still too high; non-energy services prices main driver, adds 0.29 ppts. The annual rate of US inflation as measured by changes in the consumer price index (CPI) halved from nearly 3% in the period from July 2018 to...