CPI: What Were You—And the Fed—Doing in 1982?

Summary Another jump in prices in November propelled inflation up 6.8% from a year ago, the largest one year-increase since 1982. Pressures remain broad based, with supply chains still struggling to meet turbocharged demand for goods, and services inflation only recently beginning to reflect the pandemic’s effects on housing costs. We expect the monthly trend in price gains to moderate ahead, but there is a lot of daylight between the current pace of inflation and the Fed’s goal. READ FULL ARTICLE>>