BusinessJanuary 18, 2022
Inflation jumps to a 40-year high at year-end
Prices paid by U.S. consumers jumped 7% in December from a year earlier, representing the highest inflation rate since 1982, according to a Wednesday report by The Associated Press. It is the most recent evidence of rising costs for food, gas, rent and other necessities heightening pressures on U.S. households...
Prices paid by U.S. consumers jumped 7% in December from a year earlier, representing the highest inflation rate since 1982, according to a Wednesday report by The Associated Press.
It is the most recent evidence of rising costs for food, gas, rent and other necessities heightening pressures on U.S. households.
Receive Daily Headlines FREESign up today!
"Prices have spiked during the recovery from the pandemic recession as Americans have ramped up spending on goods such as cars, furniture and appliances. Those increased purchases have clogged ports and warehouses and exacerbated supply shortages of semiconductors and other parts," AP reported.
Looking for more business news? Check out B Magazine, and the B Magazine email newsletter. Go to www.semissourian.com/newsletters to find out more.
Story Tags
Connect with the Southeast Missourian Newsroom:
For corrections to this story or other insights for the editor, click here. To submit a letter to the editor, click here. To learn about the Southeast Missourian’s AI Policy, click here.
Advertisement
Receive Daily Headlines FREESign up today!
