Although long-rising gas and meat prices are finally starting to calm down, rising prices of many important goods – including used cars, food and housing – helped inflation hit a new 39-year high in December , indicating supply chain bottlenecks. The market collapsed amid consumer demand.
Concerns over the highly contagious Omicron type though helped Energy prices fell last month for the first time since April, according to the Labor Department’s Consumer Price Index, with consumer prices rising further by 7%, the highest rate since June 1982. report good on Wednesday.
The meat and egg index also declined in December, falling 0.4% after rising at least 0.7% each in the previous seven months, with beef and pork prices down 2% and 0.8%, respectively, recently. Only after a sharp increase, the government said .
Are now leading the rise in inflation: Used car and truck prices rose about 3.5% in December, their biggest increase since June and a nearly 37.3% climb over the previous year, driven by global shortages of computer chips Which controls everything from the navigation system. windows.
Goods and services, which make up a large portion of consumer spending, also drove inflation: housing prices climbed 0.4% for the third month in a row, while medical care services rose 0.3%.
The price of fruits and vegetables climbed 0.9%, while other foods such as margarine, lunch meat and frozen seafood jumped 3.8%, 2.7% and 1.7%, respectively.