By Elisabeth Buchwald, CNN New York (CNN) — US markets reeled on Tuesday after January’s Consumer Price Index showed inflation came in hotter than expected, leaving investors to believe that interest rate cuts are off the table for the near future. Markets aside, the data was confirmation that prices are indeed still high and are taking a toll on Americans — just ask anyone who recently got a new car insurance policy (rates are up 21% from a year ago). China, however, is having a different problem: Prices are falling at their fastest rate in 15 years. No, that wasn’t a typo, falling prices are a problem when they’re widespread across an economy, like in China, which is experiencing
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