TREASURIES-US yields drop after less-than-expected rise in inflation

NEW YORK, Feb 13 (Reuters) - U.S. Treasury yields slid on Friday after data showed consumer prices rose less than expected in January, supporting expectations that the Federal Reserve will cut interest rates at least twice this year.

Data showed the Consumer Price Index rose 0.2% last month after an unrevised 0.3% gain in December. Economists polled by Reuters had forecast the CPI increasing 0.3%.

U.S. 10-year yields fell 1.7 basis points to 4.090% US10YT=RR, while the two-year yield, which reflects interest rate expectations, was down 1.9 bps at 3.447% US2YT=RR