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
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