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Inflation Hits 7% Highest Rate Since 1982

the staff of the Ridgewood blog

Ridgewood NJ, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in December on a seasonally adjusted basis after rising 0.8 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment. Increases in the indexes for shelter and for used cars and trucks were the largest contributors to the seasonally adjusted all items increase. The food index also contributed, although it increased less than in recent months, rising 0.5 percent in December.

The energy index declined in December, ending a long series of increases; it fell 0.4 percent as the indexes for gasoline and natural gas both decreased. The index for all items less food and energy rose 0.6 percent in December following a 0.5-percent increase in November. This was the sixth time in the last 9 months it has increased at least 0.5 percent. Along with the indexes for shelter and for used cars and trucks, the indexes for household furnishings and operations, apparel, new vehicles, and medical care all increased in December.

As in November, the indexes for motor vehicle insurance and recreation were among the few to decline over the month. The all items index rose 7.0 percent for the 12 months ending December, the largest 12-month increase since the period ending June 1982. The all items less food and energy index rose 5.5 percent, the largest 12-month change since the period ending February 1991. The energy index rose 29.3 percent over the last year, and the food index increased 6.3 percent.

7 thoughts on “Inflation Hits 7% Highest Rate Since 1982

  1. Thanks Joe. Keep up the great work

  2. Not to Worry
    The RICH and STUPID voters of Ridgewood will vote him back into office.

  3. It’s amazing how stupid people can be, they vote for such morons.

  4. We need Trump back

  5. Sleepy Joe has it under control.
    Was not difficult to see major problems would happen with him in charge. Bad things will continue to happen until his tem is over.

  6. Sleepy joe is a puppet
    Make NO MISTAKE about it this is Obamas third term
    All of the Obama policymakers are pulling the strings on the dementia case including Barry
    They hate america and are doing their best to destroy it

  7. Susan Rice runs the country.
    Stacey Abrams will run for the Dems in 2024.

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