Inflation Surged to 6.8% Last Month

Inflation surged 6.8% in November — even more than expected — to the fastest rate since 1982, CNBC reports.

New York Times: “The rising costs spell trouble for officials at the Federal Reserve and the White House, who are trying to calibrate policy at a moment when the labor market has yet to completely heal from the pandemic, but the risk that price increases could become more lasting is increasing.”