Fed’s favorite inflation measure hits fastest pace since 1983

The Federal Reserve’s preferred measure of inflation hit a new 38-year high in January as strong consumer demand and pandemic-related supply constraints propelled price increases.

The Commerce Department’s personal consumer spending index of core inflation, which excludes volatile food and energy costs, rose 5.2% in January from a year ago. one year, compared to 4.9% in December. This is the largest 12-month increase since April 1983.


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