A key inflation gauge showed that prices in January skyrocketed at the fastest rate since the early 1980s, though spending kept apace as consumers appeared as-of-yet relatively unfazed by the spike.
The Federal Reserve’s personal consumption expenditures price index showed a jump of 5.2% in overall prices last month, the highest observed spike since April of 1983.
Still, personal spending was up by just over 2% last month, even as income remained flat or fell slightly depending on the metric.Markets have been witnessing spiraling inflation rates after two years of the coronavirus pandemic, during which large-scale economic shutdowns and major government […]
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