Headline RoundupFebruary 10th, 2022

US Inflation Rate Hits 40-Year High

Summary from the AllSides News Team

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.

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