Consumer Prices Hit High Not Seen Since 1982

Spencer Brown / Townhall Tipsheet

Wednesday morning's release of consumer price data for December shows that costs have soared seven percent in the previous 12 months, a level of inflation not seen since 1982. The dour news from the federal government's Bureau of Labor Statistics seems to confirm predictions of inflation continuing in 2022, bringing more bad news for Americans struggling to bounce back from the Wuhan coronavirus under President Biden's economic policies.

 

A release accompanying the BLS data explained that "Increases in the indexes for shelter and for used cars and trucks were the largest contributors to the seasonally adjusted all items increase" while "The food index also contributed" as Americans see grocery prices increase.

 

BLS added that along with more expensive used vehicles, shelter, and food, "the indexes for household furnishings and operations, apparel, new vehicles, and medical care all increased in December." Read more, see tweets and video here.