What economists are saying about the highest inflation in nearly 40 years

U.S. consumer prices rose at their fastest rate in nearly four decades in December, with inflationary pressures rippling through the economy as supply chain bottlenecks persisted alongside elevated demand. 

The Bureau of Labor Statistics’ December Consumer Price Index (CPI) posted a 7.0% year-over-year increase at the end of 2021 in the fastest increase since 1982. This matched consensus estimates, based on Bloomberg data, but accelerated from November’s 6.8% increase. On a month-over-month…

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