The US sees its fastest increase in consumer prices since July 1982

A key measure of US inflation rose 5.7% in the 12 months ended in November, the Bureau of Economic Analysis said Thursday. It was the fastest increase in the consumer spending price index since July 1982.

consumer prices rose 5.7% over the past year, the fastest pace in 39 years. The November increase followed a 5.1% rise for the 12 months ending in October, continuing annual price gains that have run well above the 2% inflation target.

The consumer price index…rose sharply again last month to push the increase in the cost of living to the fastest rate in 39 years. Wholesale prices shoot up again and show U.S. inflation still getting worse.

What people are saying?

EAMurr Just shop smarter. I am buying things that have not seen big increases. The bacon industry needs to be investigated. How is it that the rest of the parts of the pig are still reasonably priced?

wayne m I don’t think inflation will kill almost 1 million people in the states like covid has. Inflation will start coming down as we just learned today supply chains are opening up. Hopefully by summer we’ll be getting back to normal economically.