The US sees its fastest increase in consumer prices since July 1982
A key measure of US inflation rose 5.7% in the 12 months ended in November, the Bureau of Economic Analysis said Thursday. It was the fastest increase in the consumer spending price index since July 1982.Stripping out energy and food prices, both of which jumped over the period, the price index advanced 4.7%, the biggest increase since September 1983.For anyone hoping there would be an end to the exorbitant climb in prices before year-end, this was a disappointment. But it could be the peak.
7% gain in October. Excluding volatile food and energy costs, prices rose 0.5%, unchanged from the prior month.Englund expects the so-called core price index to reach a peak in February,"given 2020 comparisons that show a big core price acceleration starting last March."American incomes also rose last month, but not as quickly as prices.Total incomes rose by 0.4%, or $90.4 billion, slightly less than in October, while disposable incomes also increased by 0.
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