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Why 7% Inflation Today Is Far Different Than in 1982 [View all]
ECONOMY | U.S. ECONOMY
Why 7% Inflation Today Is Far Different Than in 1982
Economic problems in the early ’80s bear little similarity to current challenges
By Greg Ip
https://twitter.com/greg_ip
Jan. 12, 2022 1:29 pm ET
Consumer price inflation in December, at 7%, was last this high in the summer of 1982. That’s about all the two periods have in common.
Today, the inflation rate is on the rise. Back then, it was falling. It had peaked at 14.8% in 1980, while Jimmy Carter was still president and the Iranian revolution had pushed up oil prices. Core inflation that year reached 13.6%.
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Why 7% Inflation Today Is Far Different Than in 1982
Economic problems in the early ’80s bear little similarity to current challenges
By Greg Ip
https://twitter.com/greg_ip
Jan. 12, 2022 1:29 pm ET
Consumer price inflation in December, at 7%, was last this high in the summer of 1982. That’s about all the two periods have in common.
Today, the inflation rate is on the rise. Back then, it was falling. It had peaked at 14.8% in 1980, while Jimmy Carter was still president and the Iranian revolution had pushed up oil prices. Core inflation that year reached 13.6%.
TO READ THE FULL STORY
SUBSCRIBE
SIGN IN
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