Washington/Sydney | Consumer prices in the US are set to record their biggest annual increase in 40 years on Thursday following a strong jobs report on Friday as wages grew at the sharpest pace since May 2020, leading markets to almost fully price in a 0.5 percentage point rate rise by the Federal Reserve next month.
Economists are forecasting that US consumer price index (CPI) inflation rose by 7.3 per cent year-on-year in January, the sharpest increase since February 1982.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
