The figures released on Thursday show the biggest year-on-year increase in consumer prices since 1982.
Groceries Could Cost 'Substantially' More in 2022, Goldman Sachs Predicts
Some economists had expected inflation to be around 7.3 percent—nearly four times the Federal Reserve's inflation target of 2 percent.and 0.7 percent from October to November. largest 12-month increase since the period ending February 1982," the U.S. Bureau of Labor Statistics noted in its statement on Thursday.this year beginning at the Fed's policy meeting on March 15 and 16. It is not yet clear the extent to which they will raise interest rates.
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