Inflation surged 6.8%, even more than expected, in November to f

Inflation surged 6.8%, even more than expected, in November to fastest rate since 1982

PUBLISHED FRI, DEC 10 20218:31 AM ESTUPDATED 5 MIN AGO

 

Jeff [e-mail].7528@JEFFCOXCNBCCOM

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, 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.

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