USA Today | Jan 12th, 2022
How'd the U.S. find itself staring down the highest inflation rate since 1990? It starts with the pandemic, our attempts to stave off a recession and COVID-19's ripple effect around the globe.
With inflation at a 39-year high, Americans are feeling the pinch in just about every facet of daily life.
The consumer price index jumped 7% from a year earlier in December, the fastest pace since 1982, as prices surged for staples such as food and gasoline, as well as new and used cars, rent and hotel rates care, the Labor Department said Friday.
There's been plenty of finger-pointing from both sides of the political aisle about who's responsible for the spiraling costs, but as usual with issues that have such a broad impact, the causes are complex.