BUSINESS

Prices Continue To Rise For American Consumers

Prices for American consumers are rising at their fastest annual rate since June 1982.

According to the latest figures from the U.S. Bureau of Labor Statistics, the consumer price index (CPI) rose 6.8 percent in the year to November.

Petrol prices jumped 6.1 percent, while the cost of second-hand cars, rent, and food also rose.

However, the monthly pace of price rises at 0.8 percent in November was slightly lower than October’s 0.9 percent.

Rising inflation is putting pressure on President Joe Biden’s political agenda as he tries to pass his $1.9 trillion social spending bill.

Readers Bureau, Contributor

Edited by Jesus Chan

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