Figures next week will increase pressure on the Fed to raise interest rates.
Wednesday’s numbers could show that headline consumer price inflation has risen above 7 per cent for the first time since 1982, while the core rate (which excludes food and energy) could rise above 5 per cent, its highest since 1990. Producer price inflation will also rise, with the headline rate reaching 10 per cent.
Although these numbers are likely to be close to the peak, they will fuel demands for the Fed to raise interest rates.