Fed’s favorite inflation gauge up 5.2% for biggest annual gain since 1983

tldr; A key inflation measure showed that prices rose at their fastest level in nearly 39 years in January, according to the US Commerce Department on Friday. The core personal consumption expenditures price index, the Federal Reserve’s primary inflation gauge, rose 5.2% from a year ago, slightly more than the 5.1% Dow Jones estimate. It was the highest level since April 1983.

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