Inflation continues to run red-hot in January, with consumer prices notching another fresh four-decade high — indicating no sign of easing anytime soon and cementing the Federal Reserve’s prospects of aggressively raising interest rate hikes next month to combat the inflationary pressure hurting Americans.
Consumer Inflation In December Jumps At Fastest Pace In Nearly 40 Years
The Price Is NOT Right! — Consumer Prices Soar 7% Over Past 12 Months
Inflation jumped at its fastest 12-month pace in nearly 40 years in December, as the surging costs continue to eat into Americans’ wages and indicate that inflationary price pressure shows no sign of easing.
Inflation Surges To New 30-Year High in October
Inflation accelerated at the fastest monthly and annual pace, hitting a three-decade high in October — a key indicator that prices are rising more than expected as companies continue to struggle with the ongoing supply chain, labor shortage, and consumer demand.