Inflation surged again through January to its fastest rate in 40 years
The Consumer Price Index – a commonly used measure of US inflation – rose 7.5% year-over-year in January, the Bureau of Labor Statistics announced Thursday morning. That came in above the median forecast of a 7.3% gain from economists surveyed by Bloomberg. It also marks the strongest price growth since February 1982 and an acceleration from the December pace of 7.1%.
Core CPI, which cuts out volatile food and energy prices, rose 0.6% through January, matching December's rate and overshooting the 0.5% forecast. The core index is largely viewed as a more accurate measure of broad inflation trends, and the lack of a month-over-month deceleration signals supply is still far from matching demand.
The report joins other data revealing how the economy fared through the worst virus wave yet. Daily infections peaked at roughly 1.4 million on January 10 and have since plunged to an average of 225,000. Last week's jobs report dashed fears that surging case counts would throw off the recovery, as the USand labor force participation swung higher.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Breaking: US annual CPI inflation jumps to 7.5% in January vs. 7.3% expectedInflation in the US, as measured by the Consumer Price Index (CPI), rose to 7.5% on a yearly basis in January from 7% in December, the US Bureau of La
Les mer »
NZD/USD consolidates under 0.6650, well within recent ranges as FX markets await US CPI dataNZD/USD has continued its pattern of stabilisation within recent ranges on Tuesday, trading for the most part just under 0.6650 and well within last F
Les mer »
Gold (XAU/USD) Price Forecast: US CPI to Lift Gold Volatility?While the relationship of inflation and gold prices appears more significant over the long term, US CPI on Thursday remains an important risk event for gold. Get your market update from RichardSnowFX here:
Les mer »
US inflation expectations seesaw near weekly top with eyes on CPI dataUS inflation expectations, as measured by the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, add to the market’s anxi
Les mer »
EUR/JPY making higher daily lows, US CPI loomsAt 131.92, EUR/JPY is flat on the session and sticking to a 131.86, 132.04 range so far on the day as traders await, in high anticipation, for the US
Les mer »
US inflation might have hit another 40-year high in JanuaryEconomists that consumer prices in January jumped 7.3% compared with 12 months ago,
Les mer »