INFLATION REMAINS AT 40-YEAR HIGH, UP 7.5% IN LAST YEAR

Key Points:

  • The Consumer Price Index (CPI) increased 0.6% in January after rising 0.5% in December.
  • CPI increased 7.5% from a year ago, the highest reading in 40 years.
  • Prices remained above 5% for the eighth straight month.
  • The core CPI, which excludes food and energy, rose 0.6% in January and is up 6.0% from the previous year.
  • The energy index is up 27.0% and the food index is up 7.0% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source