US Consumer Prices climb at fastest rate since 1982
(VOVWORLD) - Prices for US consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982.
 Grocery shopping in Chicago, Illinois, the US. (Photo: AFP/VNA) |
According to the US Labor Department, costs for gasoline jumped 6.1%, prices of apartment rents, food and new and used vehicles all notably rose last month.
Inflation rose 0.8% in November after rising 0.9% in October, which is higher than analysts’ forecast.
US President Joe Biden on Friday said the inflation rate has hit a record high in the US but will drop quickly. Other economic aspects are improving, he said, adding that the American economy has never experienced such a strong growth over the past 60 years.