The annual CPI growth is 7 percent, with energy and used cars are over 30 percent
The Consumer Price Index For All Urban Consumers (CPI-U) increased by 0.5 percent in December on a seasonally adjusted basis, after an increase of 0.8 percent in November. Over the past 12 months, the index for all items increased by 7.0 percent.
With that goes a brand new record from the books. Last month, the inflation rate in the United States rose to 6.8%. At the time, that was the highest rate in almost 40 years. The previous month it was 6.2%.
Inflation is now at its highest level since 1982. The Federal Reserve has already indicated that it will take action by tapering. It seems desperately needed, given that the value of the dollar literally evaporated.
You can see where this 7.0% comes from. The biggest increase (not entirely unexpected) comes from the Energy Market (by 30%). But even outside this category, prices are skyrocketing.
Food and drink increased by 6.3%. New cars became 11.8% more expensive and second-hand vehicles even 37% (compared to December 2020).