Prices Hit 40-Year High, Here’s What Went Up In Cost

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The Consumer Price Index, the measurement tool used to gauge inflation, rose at its fastest pace in nearly 40 years.

According to the latest report by the US Department of Labor, prices of consumer goods rose 7 percent between December 2020 and December 2021 –– the highest price increase rate since 1982. Last year, prices increase an average of 0.5% per month, impacting households already suffering from pandemic-related unemployment.

While economists predicted such a high rate of price increase, the record-breaking inflation comes amid a shortage of goods and as workers seek living wages.

Used cars were among the goods that went up the highest in price, rising 3.7% in 2021. The cost of shelter made up one-third of the total rise in prices, went up 4.1% in 2021.

Gas prices went down from a historic high, but it’s not stopping the impact on

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