WASHINGTON (AP) — Prices for U.S. consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982. Two weeks ago, though, Powell signaled a shift, implicitly acknowledging that high inflation has endured longer than he expected. They note that supply shortages in some industries have begun to gradually ease. Oil prices have been declining modestly and leading, in turn, to slightly lower gasoline prices. Even more dramatically, natural gas prices have plummeted nearly 40% from a seven-year high reached in October.

Source: Huffington Post December 11, 2021 01:49 UTC