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%.

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Comments

  • Lion91
    2022-01-13
    Lion91
    Like for like
  • LimLS
    2022-01-13
    LimLS
    Supply chain issue will not ease as fast. The omicron had again caused problems at the production at China and South East Asia. The ports and logistics in US is also facing issues as more people is down with the virus. Guess inflation figures most likely to persist for much longer than Fed thinks. They got it wrong last year and said it's transitory. Not expecting them to get it right this year
  • 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
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