Have Americans forgotten the ghosts of inflation past?
Inflation is not something we’re used to worrying about.
In fact, the only Americans with real memories of runaway inflation and its effect on household finances are likely to be those over the age of 60.
Remember (or don’t): US inflation peaked at 14.7% in March and April 1980, with the economy experiencing “stagflation,” a nightmare scenario characterized by weak growth and rising prices.
The Federal Reserve finally got inflation under control when former Chair Paul Volcker constricted the money supply and sent interest rates higher. Rates on conventional 30-year mortgages peaked at 18.45%, but prices moderated and people dependent on fixed incomes breathed a sigh a relief.
2021-05-19 15:35:53 GMT2021-05-19 23:35:53(Beijing Time) Xinhua English
LONDON, May 19 (Xinhua) Britain s Consumer Prices Index (CPI) rose by 1.5 percent in the 12 months to April, up from 0.7 percent growth to March, the British Office for National Statistics (ONS) said Wednesday.
Although the reading in April was more than double on the previous month, it remained below than the Bank of England s two percent target for inflations.
On a monthly basis, the CPI rose by 0.6 percent in April amid the easing of lockdown restrictions, following a 0.3 percent increase in March, said the ONS.
Meanwhile, the CPI including owner occupiers housing costs (CPIH) rose by 1.6 percent in the 12 months to April, up from 1.0 percent growth to March, said the ONS.
UK 12-month inflation rate soars to 1.5 pct in April amid lockdown easing
Xinhua
20 May 2021, 02:05 GMT+10
LONDON, May 19 (Xinhua) Britain s Consumer Prices Index (CPI) rose by 1.5 percent in the 12 months to April, up from 0.7 percent growth to March, the British Office for National Statistics (ONS) said Wednesday. Although the reading in April was more than double on the previous month, it remained below than the Bank of England s two percent target for inflations. On a monthly basis, the CPI rose by 0.6 percent in April amid the easing of lockdown restrictions, following a 0.3 percent increase in March, said the ONS. Meanwhile, the CPI including owner occupiers housing costs (CPIH) rose by 1.6 percent in the 12 months to April, up from 1.0 percent growth to March, said the ONS.
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