Prices paid by U.S. consumers jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, rent and other necessities are heightening the financial pressures on America's households.
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Inflation surges in December to highest rate since 1982
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Consumers paying more as inflation hits 40 year high
Prices paid by U.S. consumers jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, rent and other necessities are heightening the financial pressures on America's households.
The Bureau of Labor Statistics reports that prices rose 0.5 percent in December over November's price increases as inflation continued unabated and out of control.
Prices paid by U.S. consumer jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America's households.
Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent President Biden's approval rating tumbling.
Prices paid by U.S. consumers jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America's households.
US consumer prices rose last year at the highest rate in four decades. With inflation at 7% last year, US consumers have not seen prices soar so much since the early 1980s.
Inflation in the United States has risen over the past year at a rate not seen in four decades, the Labor Department said on Wednesday -- underscoring one of Americans' chief economic concerns in the COVID-19 era.
U.S. consumer prices rose solidly in December, with the annual increase in inflation the largest in nearly four decades, which could bolster expectations that the Federal Reserve will start raising interest rates as early as March.
Analysts say robust consumer demand collided with coronavirus-related supply shortages, pushing up prices over the year for big ticket items like cars and furniture, but more importantly for must-buy, everyday purchases like food and gasoline for motorists
Inflation jumped in December, raising costs for consumers, offsetting recent wage gains and heightening pressure on President Joe Biden and the Federal Reserve.
WASHINGTON — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains
WASHINGTON — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to...
The last time inflation rose 7 percent annually was back in 1982 and the latest consumer price report shows costs are continuing to spike. That is presenting real questions for the Federal Reserve, which is tasked with promoting stable prices.
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Inflation surges in December to highest rate since 1982 | Since Then
