The SPDR S&P 500 ETF Trust (NYSE:SPY) traded lower by 1.3% on Thursday morning after the Labor Department reported a 7.5% increase in the consumer price index in the month of January, the fastest inflation growth since 1982.
What Happened: The headline CPI rose 7.5% in January, outpacing economist estimates of 7.2% and marking the highest growth rate since February 1982. The CPI was up 0.6% on a monthly basis.
