US Inflation Rate Hits 40-Year High

Headline Roundup February 10th, 2022

In January, the annual U.S. inflation rate rose to a 40-year high of 7.5%. 

This was the highest annual price increase since Feb. 1982, and worse than many economists had predicted. In the 12 months leading up to December, annual inflation in the U.S. also hit a near-40 year high. Used-car prices rose 40.5% in January from a year ago; food prices rose 7%, the biggest jump since 1981; and grocery prices increased 7.4%. Prices grew 0.6% from the month before, the same as January's figure.

News outlets across the spectrum highlighted the story prominently Thursday morning. The acceleration in the inflation rate occurred as pandemic-related supply constraints continued to push up prices amid strong consumer demand.  The risk of these price pressures remaining persistent may encourage the Federal Reserve to raise interest rates even higher than expected in the coming months. Updated 2/10/22 at 1:46 p.m. ET with more detail.

From the Center
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Economy and Jobs, inflation rate, CPI

U.S. inflation accelerated to a 7.5% annual rate in January, reaching a new four-decade high as strong consumer demand and pandemic-related supply constraints kept pushing up prices.

The Labor Department on Thursday said the consumer-price index—which measures what consumers pay for goods and services—was last month at its highest level since February 1982, when compared with January a year ago, and higher than December’s 7% annual rate. Inflation has been above 5% for the past eight months.

The so-called core price index, which excludes the often-volatile categories of food and energy, climbed 6% in...

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From the Left
302

New year, same old high inflation.

A key measure of inflation climbed to a near-40-year high last month. Economists are hopeful that America will reach the peak of the pandemic-era price increases in the early months of 2021. Here's to hoping.

The consumer price index rose 7.5% in the 12 months ending January, not adjusted for seasonal swings, the Bureau of Labor Statistics said Thursday. It was the steepest annual price increase since February 1982 and worse than economists had forecast.

Stripping out food and energy prices, which tend to be more volatile, prices increased...

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From the Right
302

Inflation surged again in January, notching another four-decade high as strong consumer demand and pandemic-related supply-chain snarls fueled rapid price gains that wiped out the benefits of rising wages for most Americans.

The consumer price index rose 7.5% in January from a year ago, according to a new Labor Department report released Thursday, marking the fastest increase since February 1982, when inflation hit 7.6%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.6% in the one-month period from...

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