Inflation in U.S. Registers Biggest Annual Gain Since 1982 By Bloomberg

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(Bloomberg) -- U.S. consumer prices soared last year by the most in nearly four decades, illustrating red-hot inflation that sets the stage for the start of Federal Reserve interest-rate hikes as soon as March. 

The consumer price index climbed 7% in 2021, according to Labor Department data released Wednesday. The widely followed inflation gauge rose 0.5% from November, exceeding forecasts.

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The median forecasts in a Bloomberg survey of economists called for a 7% annual gain and a 0.4% advance in the monthly measure. 

Excluding the volatile food and energy components, so-called core prices rose 0.6% from the prior month and 5.5% from a year earlier.

©2022 Bloomberg L.P.

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