Inflation Jumps 6.8%–Biggest Increase In 39 Years
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Inflation just rose again.
The US consumer price jumped 6.8% year over year in November.
This is the largest increase since 1982.
JUST IN – U.S. consumer price inflation jumps 6.8% year over year in November, the largest increase since 1982.
— Disclose.tv (@disclosetv) December 10, 2021
Consumer prices surged at the fastest pace in nearly four decades in November as Americans paid more for practically everything from groceries to cars to gasoline, solidifying hot inflation as a key trait of the economic recovery.
The consumer price index rose 6.8% in November from a year ago, according to a new Labor Department report released Friday. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.8% in the one-month period from October.
It marks the fastest increase in consumer prices since June 1982, when inflation hit 7.1%.
Economists expected the index to show that prices surged 6.8% in November from the year-ago period and 0.7% from the previous month.
BREAKING: Inflation in November rose to 6.8% (y/y) – the highest since 1982.
The US has now experienced six months of over 5% inflation.
Prices are rising across the board: For gas, food, new and used cars and housing (rents) pic.twitter.com/T5IJvL6Avi
— Heather Long (@byHeatherLong) December 10, 2021
