It looks like inflation is here to stay, the chart shows which products have increased the most. As outlined by Axios
What’s new: Consumer costs rose at the fastest pace since 1982. Strip out volatile energy and food components, and it’s the quickest pace since 1991.
“The narrative that inflation is mostly energy and goods rings hollow,” says Conrad DeQuadros, an economist at Brean Capital.
Where it stands: Prices jumped across almost all categories for the second straight month, the government said.
The only categories where costs dropped from October: car insurance, recreation and communication.
What to watch: About half of the overall monthly jump in prices stemmed from pricier cars and energy (including gasoline) alone. But shelter costs — up 0.5%, matching the quick pace set the prior month — were the giant red flag.
“Once you start to see prices accelerating here, it doesn’t tend to reverse quickly,” says Aneta Markowska, an economist at Jefferies.Axios Closer By Courtenay Brown ·Dec 10, 2021