The USA inflation at 40-year high

Consumer prices in the US continued to rise and rose to the highest level in the last 40 years on an annual basis.

According to the statement made by the US Department of Labor, consumer prices increased by 0.5 percent in December compared to the previous month. The market expectation was that the increase would be 0.4%.

The annual increase in consumer prices was 7 percent. Analysts had also predicted that the annual increase would be 7 percent.

This was the highest level since June 1982.

Consumer prices excluding food and energy, which are considered core prices, increased by 0.6 percent compared to the previous month and increased by 5.5 percent annually. Analysts had expected 0.5 percent and 5.4 percent increases, respectively. Core inflation also reached its highest level since February 1991.

While energy prices in the country decreased by 0.4 percent monthly, they increased by 29.3 percent annually. Food prices increased 0.5 percent monthly and 6.3 percent annually.

Average weekly earnings were up 0.1 percent.

Annual inflation increased to 6.8 percent in November. The core inflation indicator, on the other hand, increased by 4.9 percent in November compared to the previous year.

"If inflation continues longer than we expect, we need to raise rates," Fed Chairman Jerome Powell said. had used the words.