Economy

US stocks open higher as inflation figure in-line with market forecast

Consumer prices in US rises 7% year-on-year in December 2021

Tuba Sahin   | 12.01.2022
US stocks open higher as inflation figure in-line with market forecast

ANKARA

Major indices in the US stock market opened higher on Wednesday as the annual inflation data met the market forecast.

Consumer prices in the US rose 7% year-on-year in December, marking the largest 12-month increase since June 1982, the US Department of Labor data showed.

In December 2021, the consumer price index (CPI) rose 0.5% from the previous month.

The Dow Jones industrial average rose 150 points, or 0.43%, to 36,409 at 9.30 a.m. EDT (1430GMT). The S&P 500 increased 0.56%, to 4,739.

The Nasdaq soared 0.83% to 15,280.

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