Yearly rate of CPI inflation climbs to highest level since Feb 1982

Tiger Newspress2022-01-12

U.S. consumer prices soared last year by the most in nearly four decades, illustrating red-hot inflation that sets the stage for the start of Federal Reserve interest-rate hikes as soon as March.

The consumer price index climbed 7% in 2021, according to Labor Department data released Wednesday. The widely followed inflation gauge rose 0.5% from November, exceeding forecasts.

The median forecasts in a Bloomberg survey of economists called for a 7% annual gain and a 0.4% advance in the monthly measure.

Excluding the volatile food and energy components, so-called core prices rose 0.6% from the prior month and 5.5% from a year earlier.

Dow futures up 0.4%; S&P 500 futures climb 0.4%; Nasdaq-100 futures advance 0.5%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Lion91
    2022-01-13
    Lion91
    Like for like
  • PearlynCSY
    2022-01-13
    PearlynCSY
    U.S. stocks moved slightly higher Wednesday after a key inflation report showed a historic gain but largely matched expectations. US inflation rises 7% over the past year, highest since 1982. The consumer price index, an inflation gauge that measures costs across dozens of items, rose 7% in December from a year earlier, the fastest pace since June 1982. Looks like syndicates are well prepared to deliberately push market up to lure more retail investors into the highly overvalued stock market. Better to err on the safe side as the 2-year bull run is long overdue for a major correction
  • Hkh
    2022-01-13
    Hkh
    Salary don't inflate as much. 
  • koolgal
    2022-01-13
    koolgal
    The US Consumer Price Index shows inflation at 7% the highest in 40 years!  Still it is important to stay invested as otherwise inflation will eat up the value of our hard earned money! 🤔
  • Samuel123win
    2022-01-13
    Samuel123win
    Wow
Leave a comment
15