- January CPI Report. The consumer price index for January, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared with a year ago, the Labor Department reported Thursday.
- Russia invasion of Ukraine. On February 24th, 2022, Russia invaded Ukraine in a major escalation of the Russo-Ukrainian War that began in 2014.
2022 was nothing but spectacular for the world. Long gone are the days where the Fed would “print unlimited” money just to boost or sustain the economy’s growth. The inflation spike of 2021-2022 is a time of significant economic inflation driven mostly by supply constraints caused by the COVID-19 epidemic and the Russian invasion of Ukraine, along with strong consumer demand. As a result, several nations throughout the world have seen their greatest inflation in decades, prompting central banks to raise interest rates. Let’s uncover some of the key economic information we have been through in 2022: