January 12, 2022
The following article from Reuters details how hot inflation is right now.
A short but very important read for all of us trying to look ahead. Please read the entire article:
U.S. consumer prices post biggest rise in nearly 40 years; inflation close to peaking | Reuters
If you have not lived with high inflation, those percentages are essentially a pay cut. Your wages will not buy as much as they used to.
Just a couple of the many things that should be quoted:
"In the 12 months through December, the CPI surged 7.0%. That was the biggest year-on-year increase since June 1982 and followed a 6.8% rise in November."
"But inflation for many other goods and services will be higher in 2022 than before the pandemic, due to higher labor costs and input prices. Housing will also contribute to high inflation in 2022."
Again, please read the entire article.