The number of Americans filing first-time claims for unemployment benefits rose last week to 230,000, the Labor Department reported on Thursday.
The number is 23,000 higher than the prior week’s 207,000. The four-week moving average was 210,750, an increase of 6,250.
“The question now is whether inflation will peak over the coming months, or if continued price pressures will prompt the Fed to remove monetary accommodation more aggressively,” BCA Research wrote in a note to clients Thursday.
“Our base case is that CPI inflation will moderate over the coming 6-12 months as the pandemic situation improves which will ease supply-side disruptions and support a rotation in demand from goods to services,” the note added.
“Businesses are worrying about rising input and wage costs, while households are distressed at the surging consumer prices, and they both have cause for concern,” economist Joel Naroff said in a statement Wednesday. “Inflation jumped again in December, though the pace was down from what we saw in October and November. Since December 2020, prices were up 7%, an increase not seen since the wage/price inflation spiral days in the early 1980s. Excluding food and energy, the rise over-the-year was the greatest in 30 years.”
https://www.usnews.com/news/economy/articles/2022-01-13/jobless-claims-rose-last-week-wholesale-inflation-hit-a-record-in-december
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