TRANSITORY INFLATION they said. Inflation rises to 39 year high and real wage growth falls to -1.9%!

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U.S. inflation rate swells to 39-year high of 6.8%. Americans paying higher prices for almost everything

The numbers: The cost of living climbed again in November and drove the rate of U.S. inflation to a nearly 40-year of 6.8%, putting more pressure on households as they confront rising prices of gas, food, cars, rent and so forth.

The consumer price index increased 0.8% last month, the government said Friday. Economists polled by The Wall Street Journal had forecast a 0.7% advance.

The pace of inflation over the past year escalated to 6.8% from 6.2% in the prior month. That’s more than triple the Federal Reserve’s 2% target and is the highest rate since July 1982.

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