Inflation is Spiking, Now at 7% Annually, and Is Likely To Stay High
Inflation has now spiked for the fourth month in a row. On Jan. 12, the U.S. Bureau of Labor Statistics (BLS) reported that the annual inflation had reached 7.0%, as of Dec. 2021. This was the largest 12-month increase since the 12 months ending June 1982. That is almost 40 years ago (39.5 years).