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

Sharing is Caring!

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.

See also  High Inflation is a wrecking ball to the economy.
See also  Yet the growth rate tends to be remarkably smooth and cyclical

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.