The US inflation rate rose 6.8% over the last year, the highest increase since 1982, the Bureau of Labor Statistics reported Friday morning.
Inflation rose 0.8% in November after rising 0.9% in October. Price increases were seen across many sectors, including gas, food, and housing. This is the sixth month in a row the US is seeing price increases.
Gasoline prices rose by 58.1% in November – the largest increase over 12 months since 1980.
Within the food index, grocery store prices increased across the board for the third month in a row. Meat, poultry, fish, and eggs saw a 0.9% increase in November while cereals and bakery products saw price increases of 0.8%.