Hot U.S. inflation data puts pressure on Fed to raise rates: FT

LONDON, March 7 (Xinhua) -- Recent data show that inflation in the United States runs hotter than expected and will put pressure on the U.S. Federal Reserve to further raise interest rates, the Financial Times (FT) has reported.

"The economic data has dashed hopes the Fed will soon be able to pause interest rate increases," the British newspaper said on Friday.

The U.S. Personal Consumption Expenditures Price Index, for example, has seen an acceleration to 0.6 percent month-on-month in January from 0.2 percent in December, according to the FT. The consumer price index in January also cooled less than forecast.

"An avalanche of hot inflation data" over the past month, as a result, has lifted U.S. borrowing costs to the highest point in a decade and a half, as the yield on the two-year Treasury note on Thursday hit a level last reached in 2007 before the global financial crisis, the newspaper said.