US consumer prices rose 6.8% in November, biggest jump since 1982

US consumer prices continued to surge in November, climbing 6.8 percent compared to the same month in 2020, the biggest leap since June 1982, the government said Friday.

The leap in the Consumer Price Index (CPI) was caused by an increase in various items, including a 6.1 percent surge in gasoline prices, while rent, used cars and food costs also increased, according to the Labor Department.

However, there were peak signs in inflation waves which pushed higher prices because the US economy recovered this year from the decline in Covid-19.

Compared to October, CPI rose 0.8 percent, seasonally adjusted, slightly slower than the previous month level but above analyst estimates.

Many categories see prices both flat or down a little last month.

The increase in gas prices was the same as in October, while food prices rose 0.7 percent, less than the previous month, according to the data.

The shelter prices rise with the same level as in October at 0.5 percent, while used cars, which have grown this year are partly due to the shortcomings of global semiconductors that inhibit car production, up 2.5 percent, also the same as the previous month.

With volatile food and energy components excluded, the CPI rose 0.5 percent compared to 0.6 percent leap in October. Which is in line with analyst estimates.

In the past 12 months, “Core” CPI jumped 4.9 percent, according to the report.