US inflation at levels not seen since the 80’s

US consumer price inflation for the month of December has reached a level not seen in over 40 years with year on year inflation reaching 7% and month on month inflation hitting 0.5%. Despite these large increases the December increase of 0.5% was down from 0.8% the previous month and the yearly figure of 7% was in line with market expectations which caused little to no ripple through global stock markets. The Nasdaq actually found some strength amid the growth sell off which has griped this market. This number firmly puts the chances of a US hike in March on the cards with markets having largely priced in this hike already.