U.S. CPI Hits 40-Year High In January 2022
The US consumer price index (CPI) in January continued to rise to 7.5% year-on-year, a 40-year high, higher than market expectations of 7.3%, and the previous value of 7%. On a monthly basis, the CPI rose by 0.6%, which was also higher than the market expectation of 0.4%. During the period, the core CPI, excluding food and energy, rose by 6% year-on-year, slightly higher than the expected 5.9% increase, and also hitting a new high in nearly 40 years. On a monthly basis, the core CPI rose by 0.6%, slightly higher than the market expectation of 0.5%. Although inflation in the United States is high, the inflation of gasoline and energy prices that drive inflation slowed down, with year-on-year increases of 40% and 27% respectively. As for used cars and trucks, prices continued to rebound, up 40.5% year-on-year. Under the adjustment, it has become the main cause of inflation.
