Consumer prices rose by 6.8 percent in November, as inflation hits highest pace since 1982

Consumer prices rose by 6.8 percent in November over the previous year, the highest annual inflation rate since June 1982, according to the latest Consumer Price Index data from the Bureau of Labor Statistics, released Friday.The figure exceeds the 6.2 percent year-over-year figure from October.Volatile energy prices, supply chain snarls, high consumer demand, and loose…

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Fed’s Powell sees growing risk of ‘persistent’ higher inflation

Posted November 30, 2021 at 3:22pmFederal Reserve Chair Jerome Powell said Tuesday that the risk of “more persistent” higher inflation has grown as a spike in prices driven by pandemic-related supply and demand mismatches spreads across the economy.Powell fielded questions about inflation from both Democrats and Republicans at a Senate Banking hearing. He appeared alongside Treasury…

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Biden talks to Walmart, UPS, Target, other CEOs on supply issues

Author of the article: WASHINGTON — President Joe Biden spoke on Tuesday with the chief executives at Walmart Inc, United Parcel Service Inc, FedEx Corp and Target Corp to discuss speeding up deliveries and lowering prices for consumers, according to a White House official. “During the conversations, President Biden received updates from these private-sector leaders…

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IMF chief sees risk of sustained rise in U.S. inflation

International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks at an opening news conference during the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike TheilerWASHINGTON, July 7 (Reuters) – The International Monetary Fund on Wednesday said further fiscal support in the…

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