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Inflation rises 7% over the past year, highest since 1982 - superadmin - 01-13-2022 The consumer price index, an inflation gauge that measures costs across dozens of items, rose 7% in December from a year earlier, the fastest pace since June 1982. That was in line, however, with economist estimates, and stock market futures rose after the release. Excluding food and energy, so-called core CPI was up 5.5% on the year, the biggest growth since February 1991. nflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday. The consumer price index, a metric that measures costs across dozens of items, increased 7%, according to the department’s Bureau of Labor Statistics. On a monthly basis, CPI rose 0.5%. Economists surveyed by Dow Jones had been expecting the gauge to increase 7% on an annual basis and 0.4% from November. - More -