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ROUNDUP / USA: Inflation rises to its highest level since 1982

Wednesday, 01/12/2022 3:40 PM from

dpa-AFX

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The New York Statue of Liberty. New York is the stock exchange metropolis of the United States. pexels.com

WASHINGTON (dpa-AFX) – The rise in prices in the USA accelerated further from a high level in December. Consumer prices rose by 7.0 percent compared to the same month last year, as the Department of Labor announced in Washington on Wednesday. This is the highest inflation rate since 1982. Analysts had expected this development. In November the rate was 6.8 percent.

Compared to the previous month, consumer prices rose by 0.5 percent in December. An increase of 0.4 percent was forecast here.

The core rate, which does not take into account volatile energy and food prices, rose slightly more than expected. Here the annual rate increased from 4.9 percent in the previous month to 5.5 percent. Economists had expected 5.4 percent.

Consumer prices increased for most goods. Compared to the previous month, only energy prices fell slightly. Oil prices had recently fallen. The prices for used and new cars rose particularly sharply. Prices also increased significantly for some services such as hotel accommodation.

The overall rate is thus even more clearly above the Fed’s inflation target of two percent. The US Federal Reserve wants to end its bond purchases by March to support the economy. Some Fed members have already signaled an initial rate hike for March.

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