U.S. stock index futures slipped Wednesday, as investors awaited retail sales data amid worries that elevated inflation and a tight labor market will keep the Federal Reserve on track for more interest rate increases this year.

The benchmark S&P 500 came under pressure on Tuesday after data showed U.S. consumer prices accelerated in January, boosting expectations that the Fed will raise the policy rate at least twice more this year to the 5%-5.25% range.

The consumer price index rose 6.4% last month from a year earlier, far above the Fed's 2% target but a step down from last year's blistering pace.

The focus, now, will shift to retail sales data, due at 8:30 a.m. ET, for clues on consumer spending amid worries of slowing economic growth and high inflation.

U.S. retail sales are expected to have risen 1.8% in January, as per a Reuters poll, after falling more than anticipated in December.

At 7:18 a.m. ET, Dow e-minis were down 36 points, or 0.11%, S&P 500 e-minis were down 6.75 points, or 0.16%, and Nasdaq 100 e-minis were down 19.75 points, or 0.16%.

U.S.-listed shares of Taiwan Semiconductor Manufacturing Co (TSMC) fell 5.7% in premarket trading after Warren Buffett's Berkshire Hathaway Inc slashed its stake in the chipmaker.

Shares of Airbnb Inc and Tripadvisor Inc jumped more than 9% each after the companies posted forecast-beating results due to strong demand for travel.

Kraft Heinz rose 1.3% after the ketchup maker beat quarterly sales estimates, helped by demand for its packaged meals and condiments, despite high prices.

Biogen Inc added 1.4% after it beat analysts' estimates for quarterly results on strong demand for its spinal muscular atrophy drug, Spinraza.

Nearly 70% of the S&P 500 firms that have reported results so far, have topped profit expectations, as per Refinitiv as of Friday.

However, analysts estimate fourth-quarter earnings fell 2.8% from a year earlier.