Home > NFIB Weekly News

Font Adjust: A | A | A
NFIB Weekly News

NFIB Weekly News

NFIB Weekly News Business Climate

Inflation Hits 40-Year High In December (01/18/2022)

Bloomberg (1/12) reported, “U.S. consumer prices soared last year by the most in nearly four decades, sapping the purchasing power of American families and setting the stage for the Federal Reserve to begin hiking interest rates as soon as March.”

The AP (1/12, Rugaber) reported that the Labor Department revealed the consumer price index rose 7% in December, while “the measure of inflation that excludes volatile food and gas prices jumped 5.5% in December, the fastest such increase since 1991. Inflation rose 0.5% overall from November, down from 0.8% the previous month.” According to the AP, “Rising prices have wiped out the healthy pay increases that many Americans have been receiving, making it harder for households, especially lower-income families, to afford basic expenses.” Axios (1/12, Irwin) noted that “prices rose more slowly in December than earlier in 2021, with the 0.5% surge down from 0.8% in November and 0.9% in October.” However, Axios adds that “an 0.5% monthly inflation rate, if sustained for a full year, would work out to 6.2% annual inflation, still far above the 2% the Federal Reserve aims for.”

This website and the articles contained within are provided as a free service to you and for general informational purposes only. Information on this website is not intended to provide legal, accounting, tax or other advice. Please consult your attorney, accountant, or financial or other advisor with regard to your individual situation. We also make no warranty or representation regarding, and do not endorse, any linked websites or the information appearing there.
© 2024 Small Business Resources.