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Another U.S. inflation gauge is heading even higher this week
By Vince Golle
Bloomberg News
Sunday, February 20, 2022
Federal Reserve Chair Jerome Powell and his colleagues in the coming week can expect to see their key inflation metric accelerate to a fresh four-decade high last seen when Paul Volcker led the U.S. central bank.
The personal consumption expenditures price index, which the Fed uses for its inflation target, probably jumped 6% in January from a year earlier, according to the median of a Bloomberg survey of economists. The core measure, which excludes food and fuel, is forecast to climb 5.2%.
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Less than a month before the Fed's next policy meeting, a sharper-than-projected advance in the price gauge could turn up the heat for a half-point increase in the benchmark interest rate.
January's consumer-price index rose more than forecast, with broad advances in the costs of goods and services. ...
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http://www.gata.org/files/GATA-4-wine-bottles.jpg
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