INFLATION HITS 40 YEAR HIGH

Key Points:

  • The Consumer Price Index (CPI) increased 0.5% in December after rising 0.8% in November.
  • CPI increased 7.0% from a year ago, the highest reading in 40 years.
  • Prices remained above 5% for the seventh straight month.
  • The core CPI, which excludes food and energy, rose 0.6% in December and is up 5.5% from the previous year.
  • The energy index is up 29.3% and the food index is up 6.3% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source