Inflation surged to its fastest pace since 1982 last month—here's what's more expensive (via CNBCMakeIt)
basis in November — a 6.8% increase on a year-over-year basis compared to last November, according to a Labor Department report released Friday.
The core price index, which excludes volatile food and energy prices, climbed 4.9% compared to last year. That means that the price of other goods and services like clothing, haircuts and TVs are also rising, too.“Prices pressures are much more widespread," as they reflect both strong consumer demand and supply chain issues, such as those in the auto sector, writes Leslie Preston, senior economist at TD Economics, in aMeanwhile, many Americans are feeling the effects of inflation.
Inflation is also negatively impacting people who make less than $100,000 a year, with 47% of these households reporting hardship due to increased consumer prices. While the Federal Reserve is currently gauging whether rates of inflation will subside quickly, it’s possible that the price increases will force the central bank to
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US consumer prices soared 6.8% in past year, most since 1982 | AP NewsWASHINGTON (AP) — Prices for U.S. consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982.
Read more »
Consumer prices jump at fastest pace since 1982JUST IN: The consumer price index climbed some 6.8% over the last 12 months, marking the largest 12-month increase in nearly 40 years.
Read more »
A key inflation measure rose to a 39-year high last monthAmerica's high pandemic-era price hikes were alive and kicking last month, when a key measure of inflation climbed to a level not seen since June 1982.
Read more »
Consumer prices jump at fastest pace since 1982JUST IN: The consumer price index climbed some 6.8% over the last 12 months, marking the largest 12-month increase in nearly 40 years.
Read more »
Inflation rose 6.8% over last November — Here's what five experts have to say about itInflation was up 6.8% over last November, the fastest pace since 1982. Here’s what five experts have to say about inflation, its impact on the markets and what it says about the economy.
Read more »