The U.S. government is scheduled to release the Producer Price Index for January at 8:30 a.m. ET on Tuesday.

CNBC’s Dominic Chu said higher-than-expected data on consumer prices released last week sparked concerns of accelerated interest rates by the US Federal Reserve.

Producer prices slowed to a monthly rate of 0.2% overall in December. Analysts, however, expect producer prices rising 0.5% in January.