Consumer prices in the U.S. increased at the fastest annual rate in nearly 40 years in the month of November, according to a report released by the Labor Department on Friday.
The report showed the annual rate of growth in consumer prices accelerated to 6.8 percent in November from 6.2 percent in October, reflecting the biggest jump since June of 1982.
Energy prices have skyrocketed by 33.3 percent over the last year, while prices for food have spiked by 6.1 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.