Inflation Runs Red Hot Again as Consumer Prices Surge to Highest Annual Increase Since 1982

Inflation ran red-hot again in January, with consumer prices surging to a fresh four-decade high of 7.5%, the feds said on Thursday.
The latest spike — which jumped past economists’ expectations for a 7.2% jump — marked the highest annual increase since February 1982 for the Labor Department’s Consumer Price Index, a closely tracked inflation gauge that details the costs of goods and services such as food, gas and rent.
“Increases in the indexes for food, electricity, and shelter were the largest contributors to the seasonally adjusted all items increase,” the Bureau of Labor Statistics said in a release.