Thursday, March 28, 2024

Inflation Surges at Fastest Rate in Decades, Just in Time for the Holidays

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Economists had prepared for the worst leading up to today's ' report.

But the fallout isn't less painful just because we knew what was coming. Now, here's the ugly truth:

The latest figures from the Labor Department show that inflation soared to a 39-year high in November.

WATCH:

further reports:

Consumer prices surged at the fastest pace in nearly four decades in November as Americans paid more for practically everything from groceries to cars to gasoline, solidifying hot inflation as a key trait of the economic recovery.

The rose 6.8% in November from a year ago, according to a new Labor Department report released Friday. The CPI – which measures a bevy of goods ranging from gasoline and care to groceries and rents – jumped 0.8% in the one-month period from October.

It marks the fastest increase in consumer prices since June 1982, when inflation hit 7.1%.

Economists expected the index to show that prices surged 6.8% in November from the year-ago period and 0.7% from the previous month. 

ALN Staff
ALN Staff
ALN Staff is a dedicated group of liberty-minded professionals available 24/7 to keep you informed on the news that matters.

1 COMMENT

  1. Hence acceleration of collusion with fake news Marxist MSM to spin the narrative telling the rest of us that things are better than ever, nothing to see here. Somehow they still are having trouble pinning it on President Trump knowing that no one would believe it.

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