Key inflation gauge jumped 5.8% in 2021 — most in 39 years
CBSN
Inflation is straining household budgets and sharply raising costs for employers, federal data released on Friday show.
A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982, as brisk consumer spending collided with snarled supply chains to raise the costs of food, furniture, appliances and other goods. The report Friday from the Commerce Department also said that consumer spending fell 0.6% in December.
Core inflation, which strips out volatile food and energy prides, rose 4.9%, the fastest pace since 1983.
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