Stock investors are digesting the latest CPI data as consumers grasp '80s-era inflation.
The consumer price index rose 7% annually, the highest level since 1982, as reported by the Bureau of Labor Statistics. Monthly, the gain was 0.5%, driven by shelter and used cars and trucks.
If you factor out volatile food and energy costs, the core consumer price index rose 0.6% last month. On an annual basis, core CPI jumped 5.5% in December. That’s up from 4.9% in November. On Thursday, the Producer Price Index is also expected to surge 9.8%.
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