Prices spiked a whopping 6.8 percent in November, compared with the same time last year — the fastest acceleration of inflation the country has seen in 39 years, the feds announced Friday.
It’s the highest year-over-year reading of the Labor Department’s Consumer Price Index, which measures a basket of goods and services as well as energy and food costs, since 1982, when the country saw surging inflation that sparked year-over-year spikes as high as more than 14 percent.
That means inflation is now accelerating at the highest pace many Americans have seen in their lifetimes.
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