News > US sees highest increase in inflation in 40 years

US sees highest increase in inflation in 40 years

Business Insider | 11/02/2022 09:15 AM | Click to read full article

U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month.

The consumer price index gained 0.6% last month after increasing 0.6% in December, the Labor Department said on Thursday.