Inflation Surge
Continues as U.S. , Hits 4-Decade High, of 6.1% in January.
In January 2022, a key inflation gauge
closely monitored by the
U.S. Federal Reserve jumped 6.1%. .
In January 2022, a key inflation gauge
closely monitored by the
U.S. Federal Reserve jumped 6.1%. .
ABC reports that the rise is the latest sign of
sharp price increases in the U.S., and the Russian invasion of Ukraine is likely to worsen the situation. .
ABC reports that the rise is the latest sign of
sharp price increases in the U.S., and the Russian invasion of Ukraine is likely to worsen the situation. .
On February 25,
the U.S. Commerce Department
reported the largest year-over-year
increase to inflation since 1982. .
This represents an enormous burden for households
in the U.S., particularly for lower-income families
already facing increased costs for food, fuel and housing. .
ABC reports that inflation is expected to remain high, and even accelerate, as the Russian invasion of Ukraine is likely to disrupt oil and gas exports. .
ABC reports that inflation is expected to remain high, and even accelerate, as the Russian invasion of Ukraine is likely to disrupt oil and gas exports. .
The invasion reportedly increases pressure
on the Federal Reserve to make up to five
or six quarter-point interest hikes this year. .
According to the consumer price index released earlier in February, inflation was up 7.5% from a year earlier, which was also a four-decade high. .
According to the consumer price index released earlier in February, inflation was up 7.5% from a year earlier, which was also a four-decade high. .
In December, the Fed had projected that inflation
would decline to 2.7% by the end of 2022. .
ABC reports that many economists now
see that estimate as increasingly unlikely. .
The Fed is expected to release its updated
projections for 2022 at its March meeting. .
The Fed is expected to release its updated
projections for 2022 at its March meeting.