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The analysts at Citibank suggest that the risks remains to the upside in February’s US CPI report due later today at 1230 GMT.

Key Quotes:

“The strong CPI reading from January means that another strong reading in February presents risk to the now-consensus view (which we share) that inflation will stay subdued.

We project a 0.19% MoM core reading with potential upside risk from strong apparel prices but downside risk from a pull-back in used car prices.”