Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982. Didn't Trump say the Market will crash with Biden?

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Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982. Didn't Trump say the Market will crash with Biden? (www.cnbc.com)

POINTS The consumer price index for all items rose 0.6% in January, driving up annual inflation by 7.5%.

That marked the biggest gain since February 1982 and was even higher than the Wall Street estimate.

Core inflation rose 6%, which also was a notch above expectations.

Real earnings for workers increased just 0.1% on the month when accounting for inflation.

Weekly jobless claims declined to 223,000, below the 230,000 estimate.

POINTS The consumer price index for all items rose 0.6% in January, driving up annual inflation by 7.5%. That marked the biggest gain since February 1982 and was even higher than the Wall Street estimate. Core inflation rose 6%, which also was a notch above expectations. Real earnings for workers increased just 0.1% on the month when accounting for inflation. Weekly jobless claims declined to 223,000, below the 230,000 estimate.