December headline CPI rose at 7.0% annually, its fastest rate since June 1982 when the 10Y yielded 14.44%.
The index for all items less food and energy rose at 5.5% annually, its largest increase since February 1991. Both indices showed broad-based increases with almost all categories – most of which are sticky and not prone to declines – registering multiples of the Fed’s traditional 2% target.
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