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5 Dec 2021
U.S. Inflation Winds Are Blowing as Strong as a Winter Gale: Eco Week Ahead
The Index Today
The winds of inflation in the U.S. build up further in November with consumer prices showed the largest annual advance in decades, keeping pressure on the Federal Reserve to deliver policy tightening immediately.
The widely followed CPI gauge probably increased 6.7% from November 2020, according to the median projection in a Bloomberg survey of economists. Compared with a month earlier, prices are seen rising 0.7%.
The growth in inflation this year reflects strong demand, delicate transportation networks and shortages of both supplies and labor, pressures inflicted by the disruption of the pandemic that are reverberating throughout the world economy.
Fed Chair Jerome Powell has signaled that the worsening price environment is likely to encourage officials to accelerate stimulus withdrawal, an assessment that may still stand despite the smallest gain in jobs growth this year being revealed in data on Friday, Bloomberg News reported.
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