Inflation Rises 7.5% over the past Year, the Highest since 1982

Tiger Newspress2022-02-10

Consumer prices in January surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year.

The consumer price index, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared to a year ago, the Labor Department reported Thursday.

That compared to Dow Jones estimates of 7.2% for the closely watched inflation gauge. It was the highest reading since February 1982.

Stripping out volatile gas and grocery costs, the CPI increased 6%, compared to the estimate of 5.9%.

The monthly rates also came in hotter than expected, with headline and core CPI both rising 0.6%, compared to the estimates for a 0.4% increase on both measures.

Core inflation rose at its fastest level since August 1982.

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Comments

  • TheEndIsNear
    2022-02-11
    TheEndIsNear
    Not good
  • LimLS
    2022-02-11
    LimLS
    Inflation figures will slowly taper off during the later of 2022 when the supply chain issue is resolved. But before that, we will be seeing much pain as Fed will be forced to quicken their pace of hikes and QT. Fed recent comments since late last year to turning more and more hawkish. Market will be in a volatile period at least until late 2022. Trade with care. Or just wait until the situation is better.
  • SSVC
    2022-02-11
    SSVC
    K
  • PearlynCSY
    2022-02-11
    PearlynCSY
    Dow slides 500 points as yields spike following red-hot inflation report. Thursday’s consumer price index report showed a year-over-year rise of 7.5%, hotter than expected and the largest gain since 1982. The 10-year Treasury yield jumped above 2% after starting the year at 1.51%. Now everyone realises the Biden Administration is telling the true for claiming inflation is transitory since taking office a year ago.
  • robot1234
    2022-02-11
    robot1234
    Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982. This is a confirmation signal the Biden Administration is caught flat footed and far behind the inflation curve. Since taking office, BIDEN has insisted inflation is transitory. Going forward, US Stock Markets will to be hit by a triple whammy of persistent high inflation, interest rate hikes and Fed tapering her massive $9 trillion balance sheet.
  • koolgal
    2022-02-11
    koolgal
    Investors are worried about the high inflation numbers today and the stock indexes showed their concern by closing down.  Still it is very important to stay invested otherwise inflation will chew up the real value of money. 🤔
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