The consumer price data for December has been released Wednesday morning, and it shows that costs have increased by seven percent in the past twelve months.
The United States has not seen inflation this high since 1982.
Inflation is predicted to continue throughout 2022, with the impacts of coronavirus and President Biden’s economic policies still being of concern.
Shelter, and used cars and trucks are seeing the highest inflation. Close behind are gas and groceries.
The only decrease in price consumers saw in December were “motor vehicle insurance” and “recreation.”
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