Saturday, September 28

Prices in the United States reached a peak increase of 6.8% year-on-year, the highest since 1982


Excluyendo los alimentos y la energía, el IPC aumentó un 4.9%.
Excluding food and energy, the CPI increased by 4.9%.

Photo: Mario Tama / Getty Images

Rubén Rivera

Inflation rose 6.8% compared to November of 2020 , slightly above estimates, according to the consumer price index published this Friday.

The consumer price index, which measures the cost of a large basket of goods and services, rose 0.8% in the month , representing an increase of 6.8% in year-on-year terms and the fastest since June 1982 and it is the sixth consecutive month in which inflation exceeds 5% .

Inflation accelerated in November at its fastest rate since 1982 , as reported this Friday by the Department of Labor, which means puts pressure on the economic recovery and raises risks for the Federal Reserve .

Excluding food and energy prices , the so-called basic CPI rose 0.5% in the month and 4.9% compared to a year ago, which is the largest increase since the middle of 1991.

Why are prices increasing

Officials of the Federal Reserve. Strong consumer demand for goods and supply chain bottlenecks have been major factors having a stronger impact than politicians had anticipated.

Inflationary pressures have hit workers hard. Although gross pay has increased by 4.8% over the last year, real average hourly earnings, taking inflation into account, fell another 0.4% in November and are down 1.9% in the period of 12 months, as reported by the Department of Labor in another statement .

Energy prices have risen by 33. 3% from November 2020, including a 3.5% increase in November. Only gasoline has risen by 58. 1% so far this year.

Food has risen 6.1% throughout the year , while the prices of used cars and trucks, one of the main contributors to the outbreak of inflation, have risen by 33. 4%, after a 2.5% increase last month.

The Labor Department said increases in food and energy components posted the fastest increases in recent 13 years.

Housing costs, which a third of the CPI, increased by 3.8% in the year, the highest since 2007, to accelerate the real estate crisis.

The cost of clothing also f It was notably higher in the month, with an increase of 1.3% in the month and 5% in the year, before the Christmas shopping season.

Inflation continues to be the biggest problem for economic recovery, as economists have also warned that President Joe Biden has been paying a very high political price for the price increase since its approval by citizens has been stagnant, according to different survey.

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