US inflation hits highest level in 40 years in January as prices rise 7.5% from 2021
by Dominic Rushe from on (#5W0B4)
Inflation has been driven higher by soaring demand and lack of supply caused by Covid pandemic's global impact on trade
Inflation in the US climbed to its highest level in 40 years in January, with prices rising by 7.5% from a year ago, the Bureau of Labor Statistics reported on Thursday.
The rise in the consumer price index (CPI) survey - which measures the costs of a wide variety of goods - was the largest since February 1982. CPI rose 0.6% from December, higher than expected but still down significantly from last October when inflation rose 0.9% on a monthly basis.
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