U.S. consumer prices rose at the fastest clip in nearly four decades last month, underscoring the persistently elevated inflationary pressures in the recovering economy.
The Labor Department’s Consumer Price Index (CPI) climbed by 6.8% in November compared to last year, marking the fastest annual increase since June 1982. This rate matched consensus economists’ estimates, according to Bloomberg data, but accelerated compared to the 6.2% year-over-year rate from the prior month.
Even…
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