February 14, 2018 / 1:52 PM / 3 months ago

TREASURIES-Yields rise after stronger-than-expected U.S. inflation data

NEW YORK, Feb 14 (Reuters) - U.S. Treasury yields jumped to session highs on Wednesday after data showed U.S. consumer prices gained more than expected last month, with underlying inflation posting its largest increase in a year.

The report appeared to cement expectations of a rate hike by the Federal Reserve in March.

U.S. data showed the Consumer Price Index increased 0.5 percent in January, with households paying more for gasoline and rent, compared with a 0.2 percent rise in December.

Excluding the volatile food and energy components, the CPI grew 0.3 percent, the biggest increase since January 2017 and followed a 0.2 percent growth in December.

Following the data, U.S. benchmark 10-year note yields rose to 2.882 percent, from 2.8204 just before.

U.S. 30-year yields increased to 3.144 percent, from 3.0997 before the data’s release. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Jeffrey Benkoe)

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