Market to Market

Economic Outlook: January 14, 2022

Jan 14, 2022  | Ep4722

A rise of 7 percent in the price of cars, gas, food and furniture gave the Consumer Price Index a 7 percent boost year-over-year - touching levels last seen in 1982.

The annual Core CPI, which removes gas and food, moved up 5.5 percent.

Part of the equation changed in December when retail sales declined 1.9 percent as consumers groused about the prices - pulling back spending.

When the auto sector is removed, the rate fell 2.3 percent.

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