US inflation hits highest level since 1982
FOMC voting members Bullard and Mester call for rate increase as inflation rises 7.5% in January
US year-on-year inflation rose by 7.5% in January, according to Department of Labor figures released on February 10, the largest increase since early 1982.
Inflation minus food and energy prices rose by 6%. The Department of Labor said the increase in inflation “is broad-based, with virtually all component indexes showing increases over the past 12 months”.
The prices of housing and used vehicles contributed strongly to overall inflation. Housing prices increased 4.4% annually and used vehicle
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