CPI November 2021: Inflation surged 6.8% in November, more than expected, to fastest since 1982

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.

via www.cnbc.com

Unexpectedly! (I’ve been waiting for the perfect time to bust out that Instapunditism.)