Inflation Surge <br />Continues as U.S. , Hits 4-Decade High, of 6.1% in January.<br />In January 2022, a key inflation gauge <br />closely monitored by the <br />U.S. Federal Reserve jumped 6.1%. .<br />In January 2022, a key inflation gauge <br />closely monitored by the <br />U.S. Federal Reserve jumped 6.1%. .<br />ABC reports that the rise is the latest sign of <br />sharp price increases in the U.S., and the Russian invasion of Ukraine is likely to worsen the situation. .<br />ABC reports that the rise is the latest sign of <br />sharp price increases in the U.S., and the Russian invasion of Ukraine is likely to worsen the situation. .<br />On February 25, <br />the U.S. Commerce Department <br />reported the largest year-over-year <br />increase to inflation since 1982. .<br />This represents an enormous burden for households<br />in the U.S., particularly for lower-income families <br />already facing increased costs for food, fuel and housing. .<br />ABC reports that inflation is expected to remain high, and even accelerate, as the Russian invasion of Ukraine is likely to disrupt oil and gas exports. .<br />ABC reports that inflation is expected to remain high, and even accelerate, as the Russian invasion of Ukraine is likely to disrupt oil and gas exports. .<br />The invasion reportedly increases pressure <br />on the Federal Reserve to make up to five <br />or six quarter-point interest hikes this year. .<br />According to the consumer price index released earlier in February, inflation was up 7.5% from a year earlier, which was also a four-decade high. .<br />According to the consumer price index released earlier in February, inflation was up 7.5% from a year earlier, which was also a four-decade high. .<br />In December, the Fed had projected that inflation <br />would decline to 2.7% by the end of 2022. .<br />ABC reports that many economists now <br />see that estimate as increasingly unlikely. .<br />The Fed is expected to release its updated <br />projections for 2022 at its March meeting. .<br />The Fed is expected to release its updated <br />projections for 2022 at its March meeting.
