Key Fed inflation measure rose 0.6% in January, more than expected

The core personal consumption expenditures price index increased 0.6% for the month, and was up 4.7% from a year ago.
Headline inflation increased 0.6% and 5.4% respectively. All the numbers were higher than estimates.
The numbers suggest inflation accelerated to start the new year, putting the Fed in a position where it likely will continue to raise interest rates.