Source: CNBC —
Inflation grew at its fastest clip in almost four decades last month — and rising costs are hitting the biggest areas of household budgets.
Inflation measures changes in the price consumers pay for goods and services.
It jumped 6.8% in the year through November 2021, the largest annual spike since 1982, the Labor Department said Friday. A consumer who paid $100 for a good last year would pay $106.80 for the same thing today.
That U.S. inflation reading includes prices for all sorts of items, like alcohol, fruit, airfare, firewood, hospital services and musical instruments.
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