{"id":219459,"date":"2022-02-10T18:00:27","date_gmt":"2022-02-10T18:00:27","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=219459"},"modified":"2022-02-10T17:18:13","modified_gmt":"2022-02-10T17:18:13","slug":"transitory-u-s-inflation-hits-7-5-in-january-40-year-high","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/transitory-u-s-inflation-hits-7-5-in-january-40-year-high\/","title":{"rendered":"\u201cTransitory\u201d U.S. inflation hits 7.5% in January, 40 year high"},"content":{"rendered":"

The U.S. <\/span>inflation<\/span><\/a> rate year-over-year, or the Consumer Price Index for All Urban Consumers (CPI-U) to be precise, increased 0.6% in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics <\/span>reported<\/span><\/a> today. Over the last 12 months, the all items index increased 7.5% before seasonal adjustment.<\/span><\/p>\n

\"U.S.
U.S. inflation over the past 5 years.<\/figcaption><\/figure>\n

Increases in the indexes for food, electricity, and shelter were the largest contributors to the seasonally adjusted all items increase. The food index rose 0.9% in January following a 0.5% increase in December. The energy index also increased 0.9% over the month, with an increase in the electricity index being partially offset by declines in the gasoline index and the natural gas index.<\/span><\/p>\n

Used cars, medicare, apparel is getting more expensive<\/span><\/h2>\n

Along with the index for shelter, the indexes for household furnishings and operations, used cars and trucks, medical care, and apparel were among many indexes that increased over the month. The index for all items less food and <\/span>energy<\/span><\/a> rose 0.6% in January, the same increase as in December. This was the seventh time in the last 10 months it has increased at least 0.5%.\u00a0\u00a0<\/span><\/p>\n

The all items index rose 7.5% for the 12 months ending January, the largest 12-month increase since the period ending February 1982. The all items less food and energy index rose 6.0%, the largest 12-month change since the period ending August 1982. The energy index rose 27.0% over the last year, and the food index increased 7.0%.<\/span><\/p>\n

Americans dissatisfied with Biden\u2019s handling of the economy<\/span><\/h2>\n

\u200b\u200bWith gas, food, and housing prices still rising, just 37% of Americans approve of how President Biden is handling the economy, according to a <\/span>poll<\/span><\/a> conducted by Associated Press-NORC Center for Public Affairs Research.<\/span><\/p>\n

On Wednesday, before the latest <\/span>CPI<\/span><\/a> release, the White House warned that the latest consumer prices could come out to be high. \u201cWe expect a high yearly inflation reading in tomorrow\u2019s data,\u201d said Jen Psaki, the White House press secretary. \u201cAbove 7%, as I think some are predicting, would not be a surprise.\u201d<\/span><\/p>\n

\u201cWhat we\u2019re looking at is recent trends, the inflationary increases are decreasing month to month,\u201d Psaki said.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. inflation rate year-over-year, or the Consumer Price Index for All Urban Consumers (CPI-U) to be precise, increased 0.6% in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5% before seasonal adjustment. Increases in the indexes for food, […]<\/p>\n","protected":false},"author":962,"featured_media":219467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60793,11],"tags":[77371,77158,77370],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\n\u201cTransitory\u201d U.S. inflation hits 7.5% in January, 40 year high<\/title>\n<meta name=\"description\" content=\"Reported by the U.S. Bureau of Labor Statistics, the U.S. inflation rate rose to 7.5% in January, hitting levels not seen in 40 years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/transitory-u-s-inflation-hits-7-5-in-january-40-year-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cTransitory\u201d U.S. inflation hits 7.5% in January, 40 year high\" \/>\n<meta property=\"og:description\" content=\"Reported by the U.S. Bureau of Labor Statistics, the U.S. inflation rate rose to 7.5% in January, hitting levels not seen in 40 years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/transitory-u-s-inflation-hits-7-5-in-january-40-year-high\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-10T18:00:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-10T17:18:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/us-inflation-1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"619\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laszlo Dobos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laszlo Dobos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/transitory-u-s-inflation-hits-7-5-in-january-40-year-high\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/transitory-u-s-inflation-hits-7-5-in-january-40-year-high\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#person\",\"name\":\"Laszlo Dobos\",\"url\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"caption\":\"Laszlo Dobos\"},\"jobTitle\":\"Reporter\",\"description\":\"Educated in computer engineering, Laszlo began developing an interest for crypto and blockchain technology back in 2013. 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