By Gwynn Guilford
U.S. inflation closed out 2021 at its highest level since 1982 as robust consumer demand exacerbated pandemic-related supply shortages.
The Labor Department said the consumer-price index--which measures what consumers pay for goods and services--rose 7% in December from the same month a year ago, up from 6.8% in November. That was the fastest pace since 1982 and marked the third straight month in which inflation exceeded 6%.
The so-called core price index, which excludes the often-volatile categories of food and energy, climbed 5.5% in December from a year earlier. That was a bigger increase than November's 4.9% rise, and the highest rate since 1991.
On a monthly basis, the CPI increased a seasonally adjusted 0.5% in December from the preceding month, decelerating from October and November.
Write to Gwynn Guilford at gwynn.guilford@wsj.com
(END) Dow Jones Newswires
01-12-22 0853ET
