Prices rose 7 percent in December, the fastest inflation pace in 40 years. Summary The consumer-price index, the government measurement that tracks the prices of goods and services, increased 7 percent in December 2021 compared to December 2020. This is the fastest rate increase since June 1982. Supply chain entanglements, high consumer demand for goods (e.g. used cars) and pandemic-induced low demand for services all contribute to rising prices. Rising housing costs are a particular concern. Housing costs tend to …
