WASHINGTON — Prices of consumer goods in November were up 6.8% from a year earlier, the highest increase since 1982.
The Labor Department also reported that prices climbed 0.8% from October to November — a significant rise, though less than the 0.9% increase a month earlier.
Inflation has been hitting Americans hard, particularly lower-income households and especially for staple items. It has offset wage hikes, boosting pressure on the economic recovery and raising the stakes for the Federal Reserve.
Driving up prices have been several factors: government stimulus money, rock-bottom interest rates orchestrated by the Fed and supply chain disruptions. In the past year, the costs paid by a typical American family are estimated to have soared nearly $4,000.
Manufacturers, trying to meet unexpectedly heavy demand, have faced overburdened ports and freight yards while still dealing with COVID-related closings.
