U.S. inflation hits 39-year high of 6.8% amid economic recovery

Politics Economy

The consumer price index was up 6.8 percent in November from a year earlier, marking the sharpest rise in over 39 years amid recovery from the economic downturn induced by the coronavirus pandemic, U.S. Labor Department data showed Friday. The pace of increase for the CPI, which measures the prices of a wide range of goods and services, widened from 6.2 percent in October, adding pressure for the Federal Reserve to accelerate the scale-down of its massive bond-purchasing program. The high inflation, partly triggered by goods shortages due to supply-chain disruptions, is also feared will stifle...

Kyodo News

Kyodo News