US inflation rate highest since 1982
US inflation rate highest since 1982
Houston, 12 January (Argus) — US inflation rose by 7pc in December, the fastest annual rate since 1982, as surging consumer demand outpaced overburdened supply chains.
The consumer price index topped the previous month's annualized 6.8pc rate, the Bureau of Labor Statistics said. Prices rose from the prior month by 0.5pc in December on a seasonally adjusted basis, easing from a 0.8pc gain in November.
Prices excluding food and energy — so called core inflation — rose by 5.5pc from a year earlier, the biggest increase since 1991. The energy index rose by 29pc and the food index rose by 6.3pc.
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