The U.S. rate of inflation climbed again in January to 7.5% and stayed at a 40-year high.
The consumer price index rose 0.6% in the first month of 2022, driven by big advances in rent, food and energy. The increase exceeded Wall Street’s forecast of a 0.4% gain.
The 7.5% surge in the cost of living in the past 12 months is the biggest since February 1982.