The inflation bogeyman has reared its ugly head and sent U.S. stock investors racing for the hills in recent days.

Next week, coming off one of the most volatile stretches in years, two important readings on U.S. inflation could help determine whether the stock market begins to settle or if another bout of volatility is in store.

If the January’s U.S. consumer price index due next Wednesday from the U.S. Labor Department, and the producer price index the next day, come in higher than the market anticipates, brace for more selling and gyrations for stocks.

U.S. consumer prices rose 2.1 percent year-on-year in December and is forecast to stay around that pace this month.

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