Annual inflation rises to 6.8%, the highest rate since 1982

ktla ^ | Dec 10, 2021 | Sylvan Lane,

[BenLurkin]

Consumer prices surged 6.8% in the year leading into November and 0.8% last month alone as a roaring economy overwhelmed struggling supply chains and fueled inflation, according to data released Friday by the Labor Department.

The consumer price index (CPI), a closely watched gauge of inflation, rose sharply in November as retailers, warehouses, suppliers and shipping companies scrambled to meet intense demand.

Economists expected the CPI to rise 0.7% in November and 6.7% annually after year-over-year inflation rose to 6.2% in October, the highest rate in 30 years.

November’s annual inflation rate of 6.8% is the highest since 1982.

[faithhopecharity]

Biden/Harris achieve a 40=year RECORD
in just a few months!

Imagine all they can do (to us) in the next 3.5 years!!!!!!!

[LukeL]

Many stores in my area are nearly sold out of Christmas Candy. I can’t even find those tins of Danish butter cookies. Even the cheap gift sets of things like beauty products or hot sauce are impossible to find.

[systemjim]

Those of us who endured the Jimmy Carter years of inflation, stagflation and malaise know that this inflation figure from 1982 (during the Reagan administration) was where inflation was pegged on the way down from record heights achieved by the Carter administration!!

[crz]

Bought a 1975 GMC pick up (4X4) for 5200 Bucks.

By 1978 that same truck was over 8200 bucks.

[Tipllub]

In the 70s/80s, we at least had a high interest rates so there was a chance of savings keeping pace with inflation. Not now.

[Pxzftrnqfrn]

“a roaring economy overwhelmed”

BS

More like a roaring demand for Chinese crap due to free money being given away.

[Leaning Right]

> I can’t even find those tins of Danish butter cookies. <

I saw a small stack of “Danish butter cookies” tins in my local grocery store the other day. To my surprise, they were manufactured in Pakistan.

[PsechsySr]

It is far worse than that...

Back in 1982, housing and gas price were included in the Basket of Goods that comprised the CPI...and the Basket of Goods did not replace Butter with Margarine if the price of Butter was rising faster than the price of Margarine.

I am already spending more for ground beef than I did for a steak, 8 years ago.

Gas up here is up over $3.20 vs. a low of $1.90 when we were self-sufficient, and Saudi Arabia no longer controlled our fate.

The appraised value of my house is more than 175% of what it was when I bought it in October of 2015.