Inflation soars to its highest level in 40 YEARS as prices jump 6.8%: 'Bidenflation' socks consumers with the biggest jump since Reagan administration
NEW The US inflation rate has hit its highest level in nearly 40 years, adding woes for consumers and compounding the issue as a political liability for President Joe Biden. The consumer price index rose 0.8 percent last month after surging 0.9 percent in October, the Labor Department said on Friday. It pushed annual inflation to 6.8 percent in November, the highest increase since June 1982 and well above October's 6.2 percent annual rate.