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Earlier, and fresh lamb prices rose by 10%. prices of skincare products rose by 9.6% in the 12 weeks to boxing day compared with the same period a year earlier. furniture and other household goods also saw a steady rise in prices since the start of 2021, ons figures show. the 7.4% inflation rate of this category in december was the highest since comparable data began in 1989. and used—car prices grew by 28% during 2021, compared with a 7.3% increase the previous year, due to the global shortage of computer chips which led to a rise in the cost of manufacturing new cars. pete lambdon, owner o...

>> ainsley: hundreds of new york's bravest will be in limbo as they wait to see whether appeals or exemptions are granted. those are your headlines, guys. over to you. now a fox news alert. a key inflation report. >> consumer prices jumped, wow, 7.5% over the year. that is up i think 4% -- .4% from where it was where we left off last time. is the highest in 40 years, 40 years. last month alone, prices were up .6%. let's bring in charles payne, host of "making money" on fox business. there were some pessimistic expectations going into this. we have exceeded those pessimistic expectations. >> of...

7.5%, that's inflation rate year over year. when you look at the month, 0.6%, that means how much prices rose from december to january. that is faster than many economists had expected. we thought these numbers were starting to month over month moderate, not the case last month. here's why. food, electricity, shelter, you saw a lot of things that were a lot more expensive in january than they were a year ago. among them, gas, up 40% year over year, moderation on that month to month, but i don't expect that to continue. used car prices up more than 40% year over year. think of that, if you're t...

Inflation since february 1982. we're talking four decades here. let me dig inside those numbers. gas, up 40%, these are year over year numbers. a little bit of moderation month to month, i don't expect that to continue. used cars, up more than 40%. imagine if you have to buy a used car right now, how much more you're paying this year than last year. and certainly compared with the pandemic. food at home up 7.4%. electricity up 11%. that spike really driving a lot of this overall number. rents up, apparel up, just about everything you can imagine is up here. and this has been a trend we have se...

That's the most since 1982. almost 40 years ago exactly and remember, the federal reserve goal here is for 2% inflation. we're nowhere near that. now, they're having some signs of progress month to month, right, that maybe between december and january, prices would actually cool off. that didn't happen either. prices up by 0.6%. a few concrete examples of what we're talking about. gasoline up 40% year over year. used cars, 40%. food and homes, 7.4%. nearly 11% for electricity. context is crucial here. there's a lot of positive about the economy. gdp last year grew the fastest pace, unemploymen...