U.S. Inflation Rate Hits Highest Level In Nearly 40 Years

Inflation hit a fresh 39-year high in December as a drop in energy costs wasn't enough to offset a steady march upward for staples such as food, rent and cars amid stubborn supply-chain bottlenecks and worker shortages.

The consumer price index jumped 7% last year, the fastest pace since 1982, the Labor Department said Wednesday. That's up from 6.8% annually in November, which was also a nearly four-decade high.

US #inflation rises to 7% in December, highest level in 39 years.

Gasoline: 49.6%
Beef: 18.6%
Pork: 15.1%
Chicken 10.4%
Fresh fish: 10.2%
Oranges: 9.9%
Furniture: 13.8%
Dresses: 8%
Jewelry: 8.8%
New cars: 12%
Used cars: 37.3%
Hotels: 27.6%
Car rental: 36%

— Emel Akan (@mlakan) January 12, 2022