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Consumers in the United States could be forgiven for feeling as if they are stuck in an unpleasant time warp, with latest government figures showing that inflation last month surged at its fastest annual rate in 40 years.
The Consumer Price Index (CPI), which measures price changes in a basket of goods and services, increased 7 percent in December compared with the same period a year ago, the US Department of Labor said on Wednesday. That is the sharpest 12-month spike since June 1982.
Al Jazeera’s Mike Hanna reports from Washington, DC.
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#Inflation #USinflation #USeconomy
The Consumer Price Index (CPI), which measures price changes in a basket of goods and services, increased 7 percent in December compared with the same period a year ago, the US Department of Labor said on Wednesday. That is the sharpest 12-month spike since June 1982.
Al Jazeera’s Mike Hanna reports from Washington, DC.
- Follow us on Twitter: https://twitter.com/AJEnglish/
- Find us on Facebook: https://www.facebook.com/aljazeera/
- Check our website: https://www.aljazeera.com/
#Inflation #USinflation #USeconomy
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