© Provided by The Canadian PressWASHINGTON (AP) — U.S. consumer prices rose 5.7% over the past year, the fastest pace in 39 years, as a surge in inflation confronts Americans with the holiday shopping season under way. The PCE price index tracks the actual purchase consumers are making each month while the CPI follows a fixed market basket of goods. For the month of November, the PCE price index rose 0.6%, slightly lower than the 0.7% monthly gain in October. Core inflation, which excludes volatile energy and food prices, rose 0.5% in November and has risen 4.7% over the past 12 months. It was the fastest pace for the core reading since a 5.1% rise in the 12 months ending in September 1983.

Source: CBC News December 23, 2021 16:28 UTC