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Consumer prices: “The Fed is in panic mode” – US inflation rate rises to 7.0 percent in December

US used goods dealer

Rising prices for used cars are driving inflation.

(Foto: Bloomberg)

Washington US inflation continued to rise in December. Consumer prices rose by 7.0 percent compared to the same month last year, as the US Department of Labor announced on Wednesday.

Cars turned out to be the main price drivers, but also housing expenses. It is the third month in a row that the inflation rate is above six percent.

Experts had expected an inflation rate of just this amount of seven percent in a year-on-year comparison. It is the first time since June 1982 that there is a seven before the decimal point. At that time, prices were up 7.1 percent.

In November the value was 6.8 percent, in October it was 6.2 percent after 5.4 percent in September.

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Reference-www.handelsblatt.com

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