U.S. Consumer Price Inflation Jumps 6.8%, The Largest Increase Since 1982

The US Labor Department announced that the consumer-price index rose 6.8% in November from the same month a year ago, the highest since 1982.

Last month, the index was already at 6.2% and has been higher than 5 for at least six months. 

The increase in consumer price index  (CPI) was the result of broad
increases in other indexes such as gasoline, shelter, food, and vehicles.

The CPI index is now 4.9% higher year on year, up from 4.6% last October. 

Food and energy, climbed 4.9% in November, the highest since 1991 while gas rose by 6.1% for the second straight month.

The prices trend came just before the Omicron variant of Covid-19 was detected and forced some countries to close their borders once again. 

© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.