IN THE NEWS: INFLATION RISES 7% OVER THE PAST YEAR, HIGHEST SINCE 1982

KEY POINTS FROM CNBC  https://www.cnbc.com/2022/01/12/cpi-december-2021-.html

• The consumer price index, an inflation gauge that measures costs across dozens of items, rose 7% in December from a year earlier, the fastest pace since June 1982.
• That was in line, however, with economist estimates, and stock market futures rose after the release.
• Excluding food and energy, so-called core CPI was up 5.5% on the year, the biggest growth since February 1991.