Inflation peaks across the rich world
American prices rise 9.1% in a year, the fastest since 1981, and central banks raise rates at the sharpest pace in four decades.
- When
- Known to
- ± 15 days
- Era
- Contemporary, Holocene
US CPI inflation peaked at 9.1% in the year to June 2022, with the eurozone reaching 10.6% that October. Supply chains disordered by the pandemic met an energy shock from the invasion of Ukraine and fiscal support that had not been withdrawn. The Federal Reserve raised rates from near zero to over 5% in sixteen months. Inflation fell back without the deep recession almost every forecaster had said would be required.