Opinion: February 10, 2022. The Consumer Price Index (CPI) rose 7.5% in the US in the last 12 months

[marcusantoniu26]

The Consumer Price Index (CPI) rose 7.5% in the US between February 1 2021 and January 31 2021 (12 months) as this publication of the Bureau of Labor Statistics shows. The CPI continues to increase its rate. This represents a 40 year high. The last time this index was higher was in February 1982 (reference). In January, the CPI increased 0.6%. This represents a acceleration of the month to month inflation compared to December 2021

The main contributors of the increase were used autos and energy. The price of used cars grew 40.5% and price of energy increased 27% in the past 12 months and within this increase, gasoline increased 40% and fuel oil 46.6% .

Regarding the month to month CPI increase, it resumed its acceleration

It is expected that the yearly CPI change with continue to increase throughout 2022.

Previous posts regarding the inflation rate

• July 15, 2021. Inflation Peaks as CPI Rises 5.4%
• September 12, 2021. 12-Month Percent Change in CPI is 5.4% in July 2021
• September 15, 2021. 12-Month Percent Change in CPI is 5.3% in August 2021
• October 13, 2021. 12-Month Percent Change in CPI is 5.4% in September 2021
• November 10, 2021. 12-Month Percent Change in CPI is 6.2% in October 2021
• December 10, 2021. Inflation Rate at 6.8% (Annual Rate), Will it Continue to Climb?
• January 12, 2022. Inflation Rate at 7.0% (Annual Rate), it Continues to Rise

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

Comments

[kawsar8035]

Nice post about The Consumer Price Index (CPI). Petrol and fuel oil prices are currently rising worldwide