Shoppers turn up early for Black Friday sales in Pennsylvania in November. The US last year saw its largest annual increase in inflation in nearly four decades. Photo: Reuters
Shoppers turn up early for Black Friday sales in Pennsylvania in November. The US last year saw its largest annual increase in inflation in nearly four decades. Photo: Reuters

US inflation hits 39-year high of 7 per cent

  • Consumer prices in 2021 rose by the most in nearly four decades, setting the stage for the start of Federal Reserve interest-rate hikes
  • High inflation has proven more stubborn than the central bank predicted, as unprecedented demand for goods runs into supply constraints

Topic |   US Federal Reserve
Shoppers turn up early for Black Friday sales in Pennsylvania in November. The US last year saw its largest annual increase in inflation in nearly four decades. Photo: Reuters
Shoppers turn up early for Black Friday sales in Pennsylvania in November. The US last year saw its largest annual increase in inflation in nearly four decades. Photo: Reuters
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