Bidenflation Still Burning: Prices Rising at Fastest Pace Since 1982

True Pundit February 28, 2022

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A key measure of inflation indicates prices rose in January at the fastest annual pace in forty years.

The personal consumption expenditures price index, which the Fed uses for its two percent inflation target, increased 0.6 percent from December and 6.1 percent from 12-months earlier.

The figures show that inflation accelerated as the year began, upending hopes that prices might cool somewhat. The Fed has been shrinking the size of its asset purchases for the past few months and indicated that it plans to raise its target in March. That has driven up rates of mortgages and other loans but there’s no indication inflation has tapered.

Prices rose by 0.5 percent in December, more than the preliminary report of a 0.4 percent rise.- READ MORE

Categories: News

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