“Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982”
February 10, 2022
“…The consumer price index for January, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared with a year ago, the Labor Department reported Thursday.
That compared with Dow Jones estimates of 7.2% for the closely watched inflation gauge. It was the highest reading since February 1982… Stock market futures declined following the report, with rate-sensitive tech stocks hit especially hard. Government bond yields rose sharply, with the benchmark 10-year Treasury note touching 2%, its highest since August 2019…
On a percentage basis, fuel oil rose the most in January, surging 9.5% as part of a 46.5% year-over-year increase. Energy costs overall were up 0.9% for the month and 27% on the year…”