Inflation Soars to 40 Year High

CPI-U @ 7.5%: Today the US Bureau of Labor Statistics reported that in January 2022 the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6%. Over the last 12 months, the all items index increased 7.5 percent.

Core CPI-U @ 6.0%: "The index for all items less food and energy rose 0.6 percent in January, the same increase as in December. This was the seventh time in the last 10 months it has increased at least 0.5 percent.

Highest Inflation in 40 years:

The all items index rose 7.5 percent for the 12 months ending January, the largest 12-month increase since the period ending February 1982. The all items less food and energy index rose 6.0 percent, the largest 12-month change since  the period ending August 1982. The energy index rose 27.0 percent over the last year, and the food index increased 7.0 percent.  

Energy

The energy index increased 0.9 percent in January. The electricity index rose sharply in January, increasing 4.2 percent. The gasoline index fell 0.8 percent in January after rising rapidly in the autumn of 2021. (Before seasonal adjustment,  gasoline prices rose 0.1 percent in January.) The index for natural gas also declined in January, falling 0.5 percent after declining 0.3 percent in December. 

The energy index rose 27.0 percent over the past 12 months with all major energy  component indexes increasing. The gasoline index rose 40.0 percent over the last year, despite declining in January. The index for natural gas rose 23.9 percent over the last 12 months, and the index for electricity rose 10.7 percent.

2/10/22 Biden Barometer:  Stock Market & Oil Price Performance under President #46 Joe Biden 

See #BidenBarometer

Full Press Release https://www.bls.gov/news.release/cpi.htm