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Inflation is hitting the 3 big areas of household budgets

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David Paul Morris/Bloomberg via Getty Images

Inflation grew at its fastest clip in almost four decades last month — and rising costs are hitting the biggest areas of household budgets.

Inflation measures changes in the price consumers pay for goods and services.

It jumped 6.8% in the year through November 2021, the largest annual spike since 1982, the Labor Department said Friday. A consumer who paid $100 for a good last year would pay $106.80 for the same thing today.

That U.S. inflation reading includes prices for all sorts of items, like alcohol, fruit, airfare, firewood, hospital services and musical instruments.

Higher inflation was concentrated in a few areas like used cars and trucks…



Source cnbc.com

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