Washington | US inflation has hit a 40-year high and is expected to remain well above the Federal Reserve’s target this year leading to interest-rate increases as soon as March.
The consumer price index rose 0.5 per cent in December, ahead of forecasts, putting the annual rate of inflation at 7 per cent, the largest 12-month gain since June 1982, the Labour Department said on Wednesday (Thursday AEDT). The figures are seasonally adjusted.
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Bloomberg
Matthew Cranston was The Australian Financial Review’s United States correspondent.
