Asian stock market indexes today are showing a minor mood on U.S. inflation data. U.S. consumer prices (CPI) rose 6.4% in January compared to the same month a year ago. Thus, inflation slowed down from 6.5% in December and is at its lowest level since October 2021. However, analysts had expected a much more significant weakening in the rate of price growth, to an average of 6.2%, according to Trading Economics.

Additionally, the CPI index rose 0.5% last month from December, the biggest gain in three months. The slower weakening of inflation makes it more likely that the Federal Reserve will continue to raise interest rates soon. That could have a negative impact on the economy, analysts said.

Asian stock indexes — details

The value of Japan’s Nikkei 225 index fell 0.44%. China’s Shanghai Composite was down 0.36%. Hong Kong Hang Seng lost 1.41%, its fourth consecutive trading decline. South Korea’s Kospi was down 1.66%. Australia’s S&P/ASX 200 index was down 1.1 percent in trading. 

Despite the fastest rise in interest rates in history, resource-rich Australia still has some chance of avoiding a recession and achieving a “soft landing” of the economy, Reserve Bank of Australia Governor Philip Lowe said Wednesday. Speaking to the Senate, he said that while wage growth remains relatively low and inflation expectations unchanged, an economic downturn may not happen.

Earlier we reported that European equity markets are mostly rising on statistics and reports.