Inflation surged 6.8% in November, to fastest rate since 1982

**McRocket** · 12-10-2021, 11:43 AM

'Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.

The consumer price index, which measures the cost of a wide-ranging basket of goods and services, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.

Excluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.'

https://www.cnbc.com/2021/12/10/cons...mber-2021.html

Since 'Brave, Free Speech Loving' Earl banned me/others from his thread on this subject.
I started my own.

**McRocket** · 12-10-2021, 11:44 AM

And to those of you whom say that this inflation 'spike' is strictly due to 'supply chain issues'?

Even the Fed disagrees with you.

'Despite his attempt to blame high prices on supply chain backlogs — as opposed to stimulus money driving the devaluation of the dollar — Powell did admit that the overall “risk of higher inflation has increased.”

“Generally, the higher prices we’re seeing are related to the supply and demand imbalances that can be traced directly back to the pandemic and the reopening of the economy,” he said. “But it’s also the case that price increases have spread much more broadly in the recent few months across the economy, and I think the risk of higher inflation has increased.”'

https://nypost.com/2021/11/30/jerome...ory-inflation/

**evince** · 12-10-2021, 11:49 AM

Originally Posted by McRocket

'Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.

The consumer price index, which measures the cost of a wide-ranging basket of goods and services, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.

Excluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.'

https://www.cnbc.com/2021/12/10/cons...mber-2021.html

Since 'Brave, Free Speech Loving' Earl banned me/others from his thread on this subject.
I started my own.

Fed chairman vowed to “use our tools to make sure that higher inflation does not become entrenched,” suggesting an openness to raising interest rates or bringing a quicker end to the Fed’s bond-buying program.

In his opening remarks, Powell admitted that “it now appears that factors pushing inflation upward will linger well into next year.” He also noted that the Omicron variant of COVID-19 posed “downside risks to employment and economic activity and increased uncertainty for inflation.”