At this writing, the annual inflation data has just been published in the United States. By hitting the 7% mark in December 2021, the increase in consumer prices reached a level that hasn’t been seen since 1982, during an era of high inflation.
Higher prices for food, rent and consumer goods such as cars are the main drivers of this phenomenon.
In Canada, figures for December 2021 showed an inflation rate of 4.8%, an 30-year high. With statistics like these, we can expect the growth of inflation to remain a key data point that financial analysts will be monitoring in 2022.
The following sources were used to prepare this article:
La Presse, “La hausse de l’inflation stable à 4,7 % en novembre au Canada.”
Radio-Canada, “L’inflation annuelle a bondi à 4,8 % en décembre au Canada, un sommet en 30 ans.”
USA Today, “Inflation reaches highest level since 1982 as consumer prices jump 7% in 2021.”