Global inflation is now spiraling out of control with consumer prices soaring at their fastest annual pace in 40 years.
Data released last month showed that U.S Inflation is now running at its highest in a generation with Consumer Prices rocketing by a whopping 7% in December from a year ago.
According to Wall Street, the actual global inflation figures are likely much higher than being reported with economists convinced the real numbers are now in the double digits.
Looking ahead, traders have now shifted their attention to Thursday’s Consumer Price Inflation reading for clues on gold’s next big move. The reading is expected to show a record-setting gain of 7.3%, which would be the largest year-over-year jump in consumer inflation since the early 1980s.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
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