Inflation increases 7% over past year, highest in nearly 40 years
On a monthly basis, CPI increased 0.5%, Labor Department also reported
Updated: January 12, 2022 - 8:53am
The Facts Inside Our Reporter’s Notebook
The Consumer Price Index over the past 12 months increased 7%, the Labor Department reported Wednesday.
The index show inflation, what U.S. consumers pay for goods, increased at its fastest 12-month pace in nearly 40 years during December.
The CPI on a monthly basis increased 0.5%, according to the department's Bureau of Labor Statistics.
Economists surveyed by Dow Jones expecting an increase of 7% on an annual basis and 0.4% from November, according to CNBC.
Just News, No Noise
- Two years later, Jan. 6 video footage raises new questions about police and prosecutors
- DHS heavily redacted Disinformation Board emails despite claiming agency had nothing to hide
- Durham bombshell: Prosecutor unveils smoking gun FBI text message, 'joint venture' to smear Trump
- Six Minutes of Heroism: Watch Nashville cops race through school to neutralize shooter
- Ethics clouds shadow 4 Democrat House members, including Senate hopefuls, 'Squad' icons