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Consumer Price Index
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Your Money Is Now Losing Close to 1 Percent of Its Value Every 30 Days, According to Labor Bureau Data
Currently, inflation of the U.S. dollar is at its highest level since 1990.
U.S. consumer confidence rose in October after three consecutive months of declines.
According to the latest Bureau of Labor Statistics (BLS) data, the annual inflation rate climbed to a 13-year high of 5.4 percent in September, coming in higher than the median estimate of 5.3 percent.
The consumer price index (CPI) rose 0.3 percent in August from July, the Labor Department said in a Sept. 14 report, with consensus forecasts predicting a slightly higher 0.4 percent rate of monthly inflation.
The Labor Department stated in a report on Aug. 11 that the consumer price index (CPI) jumped 0.5 percent in July from June, which is less than the previous monthly increase of 0.9 percent.
Some economists have expressed concerns that if prices accelerate too fast and stay high for too long, expectations of further price increases will take hold, driving up demand for wages and potentially triggering the kind of wage-price spiral that plagued the economy in the 1970s.
What does the risk of high inflation mean for the days ahead? While it isn't possible to see into the future, a look at rates in the past can help provide some context.